The Sarbanes-Oxley Act of 2002 (Pub.L. 107-204, 116 Stat. 745, enacted July 30, 2002), also known as the Public Company Accounting Reform and Investor Protection Act of 2002 and commonly called Sarbanes-Oxley, Sarbox or SOX, is a United States federal law enacted on July 30, 2002 in response to a number of major corporate and accounting scandals including those affecting Enron, Tyco International, Adelphia, Peregrine Systems and WorldCom.
Source: Wikipedia
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The seminar is so entertaining because we the audience were so active and very participative because there were special prizes when we answer some questions. Yehey! Starbucks... We talked about some examples like the importance of seatbelts and others...etc...
At first, I have no idea what SOx is... Now I know that It is a federal law against scandalous business organizations to inform the public about them so that no people would be victimized by it.
Operational Excellence Movement has an internal control.
· Process
· Effected by people
· Provides reasonable assurance
· Objective Oriented
This internal control has also requirements.
· Documented
· Monitored
· Tested
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