Sarbanes-Oxley Act

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Sarbanes Oxley Act of 2002

Legislation in the United States, passed in 2002, intended to increase transparency in accounting practices. It was adopted in the wake of a series of scandals involving aggressive accounting on the part of a number of major accounting firms, notably Arthur Andersen. Among other provisions, it created the Public Accounting Oversight Board to regulate accounting firms that provide auditing services. It established and enhanced provisions for auditor independence and financial disclosures to limit potential conflicts of interest. It introduced a requirement that the chief executive officer must sign a corporation's tax return and enhanced punishments for white collar crime. Proponents argue that the Act has increased transparency in public accounting, while critics contend that it has driven business outside the United States.

Sarbanes-Oxley Act

The congressional legislation that regulates certain corporate financial activities and improves the accuracy of financial statements. Among other things, the act prohibits personal company loans to directors and officers, requires certification of financial statements by a firm's chief executive officer and chief financial officer, protects employee whistle-blowers, increases criminal penalties for securities law violations, requires disclosure of off-balance-sheet financing, and calls for improvement in the accuracy of pro forma financial statements. The act was passed in 2002 in response to widely publicized corporate accounting scandals.

Sarbanes-Oxley Act

see CORPORATE GOVERNANCE.

Sarbanes-Oxley Act

see CORPORATE GOVERNANCE.
References in periodicals archive ?
Similar services -- even those announced by major financial institutions -- base a customer's data longevity on a never-ending subscription payment model with no price guarantees, and where missed payments can lead immediately to deleted data.
Holographic storage is essentially analog rather than digital, and data longevity and the desire for writing and then totally erasing the data at low input powers are opposing requirements in high-volume analog media.
Each of these technologies has its strengths and weaknesses, and each, when mapped by expected data longevity, is strongest in only part of the storage spectrum.
tested five brands of archival-quality DVD discs including the Millenniata M-DISC for data longevity and reliability.
These paradigms combine the data longevity of tape with the fast, random access of disks.
Apace's approach assures compliance, interoperability, data longevity and access not only with its LEGO block like product suite that also seamlessly ties third party workgroups and media tools from Avid, Apple, Harris, Grass Valley, Adobe, Sony, Panasonic, and others to each other.

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