![]() ![]() This steady stream of data is immensely important to the market. These provide the public with important information on a company's assets, liabilities, revenue, cash flow, and business operations. ![]() Publicly traded companies file periodic financial reports. See FindLaw's Securities Law section for more articles. Sarbanes-Oxley sought to enhance the integrity of corporate financial reporting and better regulate the accounting profession.ĭetails about Sarbanes-Oxley regulations are listed below. Revelations that corporate executives filed misleading financial statements and of cozy relationships between accounting firms and the companies they audited were a common feature in these scandals. Congress passed SOX in 2002 after a string of corporate scandals, most prominently at Enron and WorldCom, shocked the public and rattled markets. The Sarbanes-Oxley Act (commonly called "SOX") reformed corporate financial reporting and the accounting profession.
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