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Earl Powers: Sarbanes Oxley Act Sox And Not The Ones On Your Feet!

Earl Powers: Sarbanes Oxley Act Sox And Not The Ones On Your Feet!

by Rick Turoczy on June 26, 2006

With the increase of regulatory norms, more and more companies are coming under the scrutiny of Federal government. Those companies that specially obtain lists and store personal information come under special scrutiny of Sarbanes Oxley Act. Lately, there had been review stating that Sarbanes Oxley Act has been too stringent on the companies. The most talked about section of the Sarbanes Oxley Act is the Section 404 which seeks to enhance reliability of internals controls over financial reporting. These tightened internal control implemented as a result of Sarbanes Oxley Act has lead strains on companies as well as the accounting firms.

A proper regulatory framework with more stringent rules and a company with proper internal regulatory body delivers the most accurate and transparent financial reporting. This law is administered by Securities and Exchange Commission. This body sets rules and deadlines for the compliance and published rules on the requirements.

Earl Powers: Sarbanes Oxley Act Sox And Not The Ones On Your Feet!

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