The result was the Sarbanes-Oxley Act of 2002 which protects the interests of investors and employees by making corporate disclosures more accurate and reliable. This book provides a basic understanding of this monumental legislation, its impact on public companies, and how these businesses can comply.
Table of Contents Part 1: Sarbanes-Oxley Overview
Introduction
Origin of the Sarbanes-Oxley Act
What Is Covered by Sarbanes-Oxley?
What Employees Need to Know
Summary Part 2: Director Independence
Introduction
Strengthening Federal and State Laws and Stock Exchange Rules
Rules for Independent Directors
Committees of Independent Directors
Summary Part 3: Key Committees
Introduction
Audit Committees
Nominating Committees
Compensation Committees
Summary Part 4: Reforms in Compensation and Stock Trading
Introduction
New Regulations
Summary Part 5: Increased Criminal and Civil Liability
Introduction
New Crimes
Increased Civil Liability
Whistleblower Protection
Summary Part 6: Enhanced Public Disclosure
Introduction
Taking Responsibility
Periodic Reports
Established Disclosure Controls and Procedures
Reporting of Internal Control over Financial Reporting
Adherence to Accelerated Disclosure Deadlines
Proper Dissemination of Information
Implementation of a Code of Ethics
Summary Appendix
Appendix to Part 1
Appendix to Part 2
Appendix to Part 3
Appendix to Part 4
Appendix to Part 5
Appendix to Part 6 Objectives Identify important areas covered by Sarbanes-Oxley Understand director independence requirements Become familiar with the responsibilities of audit, nominating, and compensation committees Identify reforms for compensation and stock trading Understand the provisions for increased criminal and civil liability Know the new public disclosure requirements
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