The Sarbanes-Oxley Act is arranged into eleven titles. As far as compliance is concerned, the most...

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Accounting

The Sarbanes-Oxley Act is arranged into eleven titles. As far ascompliance is concerned, the most important sections within theseare often considered to be 302, 401, 404, 409, 802 and 906. in yourown words, what are this sections about? please no copy and paste,explain with your own words, and no handwriting please, thanks!

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ANSWER The SarbanesOxley Act was designed to improve the quality of financial reporting by public companies It was written in response to the fraudulent reporting of Enron Corporation Worldcom and several other businesses and was passed in 2002 Key provisions of the Act are as follows The CEO and CFO must certify the accuracy of the financial statements Section 302 Periodic statutory financial reports are to include certifications that The signing officers have reviewed the report The report does not contain any material untrue statements or material omission or be considered misleading The financial statements and related information fairly present the financial condition and the results in all material respects The signing officers are responsible for internal controls and have evaluated these internal controls within the previous ninety days and have reported on their findings A list of all deficiencies in the internal controls and information on any fraud that involves employees See Answer

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