AUD 2 Professional Responsibilities and Ethics 9 Flashcards
Sarbanes-Oxley Act (SOX)
Relevant pro___ions follow:
Title I – Public Accounting Oversight Board (sections)
Title II – Auditor Independence
Title III – Corporate Responsibility
Title IV – Enhanced Financial Disclosures
Title V – Analyst Conflict of Interest
Title VI – Commission Resources and Authority
Title VII – Studies and Reports
Title VIII – Corporate and Criminal Fraud Accountability
Title IX – White Collar Crime Penalty Enhancements
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
Title II – Auditor Independence
Title III – Corporate Responsibility
Title IV – Enhanced Financial Disclosures
Title V – Analyst Conflict of Interest
Title VI – Commission Resources and Authority
Title VII – Studies and Reports
Title VIII – Corporate and Criminal Fraud Accountability
Title IX – White Collar Crime Penalty Enhancements
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 101 – Establishes the Board (PCAOB), which consists of
5 full time members,
2 of which are ___s,
all appointed by the SEC.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 101 – Establishes the Board (PCAOB), which consists of
5 full time members,
2 of which are CPAs,
all appointed by the SEC.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 101 – Establishes the Board (PCAOB), which consists of
5 full time members,
2 of which are CPAs,
all appointed by the SEC.
• 102 – Requires public accounting firms to re____er with the Board in order to issue or participate in the issuance of an audit report for an issuer.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 101 – Establishes the Board (PCAOB), which consists of
5 full time members,
2 of which are CPAs,
all appointed by the SEC.
• 102 – Requires public accounting firms to register with the Board in order to issue or participate in the issuance of an audit report for an issuer.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 102 – Requires public accounting firms to register with the Board in order to issue or participate in the issuance of an audit re____ for an issuer.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 102 – Requires public accounting firms to register with the Board in order to issue or participate in the issuance of an audit report for an issuer.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 103 – Authorizes the Board to establish
audit standards,
quality control standards, and
ethics standards
to be used by re______ed public accounting firms
in the preparation and issuance of audit reports.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 103 – Authorizes the Board to establish
audit standards,
quality control standards, and
ethics standards
to be used by registered public accounting firms
in the preparation and issuance of audit reports.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 103 – Authorizes the Board to establish
audit standards,
quality control standards, and
ethics standards
to be used by registered public accounting firms
in the preparation and issuance of audit reports.
The board also inspects, investigates, and disciplines pu____ accounting firms and enforces compliance with the act.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 103 – Authorizes the Board to establish
audit standards,
quality control standards, and
ethics standards
to be used by registered public accounting firms
in the preparation and issuance of audit reports.
The board also inspects, investigates, and disciplines public accounting firms and enforces compliance with the act.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 103 – Authorizes the Board to establish
audit standards,
quality control standards, and
ethics standards
to be used by registered public accounting firms
in the preparation and issuance of audit reports.
The board also inspects, investigates, and disciplines public accounting firms and enforces compliance with the act.
o S\_\_\_\_\_\_\_\_\_s either by the AICPA (ASB) or the PCAOB or a combination of the two. o Must keep workpapers for 7 years from report release date. o A second partner is required to review all audit reports. o Audit reports must describe the scope of testing for I/C.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 103 – Authorizes the Board to establish
audit standards,
quality control standards, and
ethics standards
to be used by registered public accounting firms
in the preparation and issuance of audit reports.
The board also inspects, investigates, and disciplines public accounting firms and enforces compliance with the act.
o Standards either by the AICPA (ASB) or the PCAOB or a combination of the two. o Must keep workpapers for 7 years from report release date. o A second partner is required to review all audit reports. o Audit reports must describe the scope of testing for I/C.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 104 – Provides for Quality Control P____ Review Inspections to be conducted by the Board:
o Must be performed every year for firms that provide more than 100 audit reports annually. o At least every 3 years if 100 or less annually ▪ A written report of findings, including deficiencies discovered, is provided to the SEC and made available to the public.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 104 – Provides for Quality Control Peer Review Inspections to be conducted by the Board:
o Must be performed every year for firms that provide more than 100 audit reports annually. o At least every 3 years if 100 or less annually ▪ A written report of findings, including deficiencies discovered, is provided to the SEC and made available to the public.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board au____ty to conduct investigations and obtain all relevant info.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all re_______ info.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct in__________s and obtain all relevant info.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and ob____ all relevant info.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Power to suspend au\_\_\_\_\_\_s, revoke the registration of the accounting firm, or impose penalties for violations or for unwillingness to cooperate with an investigation.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Power to suspend auditors, revoke the registration of the accounting firm, or impose penalties for violations or for unwillingness to cooperate with an investigation.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Power to su\_\_\_\_\_d auditors, revoke the registration of the accounting firm, or impose penalties for violations or for unwillingness to cooperate with an investigation.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Power to suspend auditors, revoke the registration of the accounting firm, or impose penalties for violations or for unwillingness to cooperate with an investigation.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Power to suspend auditors, revoke the re\_\_\_\_\_\_\_\_n of the accounting firm, or impose penalties for violations or for unwillingness to cooperate with an investigation.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Power to suspend auditors, revoke the registration of the accounting firm, or impose penalties for violations or for unwillingness to cooperate with an investigation.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Power to suspend auditors, re\_\_\_e the registration of the accounting firm, or impose penalties for violations or for unwillingness to cooperate with an investigation.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Power to suspend auditors, revoke the registration of the accounting firm, or impose penalties for violations or for unwillingness to cooperate with an investigation.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Power to suspend auditors, revoke the registration of the acc\_\_\_\_\_ing firm, or impose penalties for violations or for unwillingness to cooperate with an investigation.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Power to suspend auditors, revoke the registration of the accounting firm, or impose penalties for violations or for unwillingness to cooperate with an investigation.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Power to suspend auditors, revoke the registration of the accounting firm, or impose pe\_\_\_\_\_ies for violations or for unwillingness to cooperate with an investigation.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Power to suspend auditors, revoke the registration of the accounting firm, or impose penalties for violations or for unwillingness to cooperate with an investigation.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Power to suspend auditors, revoke the registration of the accounting firm, or impose penalties for vi\_\_\_\_\_\_ns or for unwillingness to cooperate with an investigation.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Power to suspend auditors, revoke the registration of the accounting firm, or impose penalties for violations or for unwillingness to cooperate with an investigation.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Power to suspend auditors, revoke the registration of the accounting firm, or im\_\_\_\_ penalties for violations or for unwillingness to cooperate with an investigation.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Power to suspend auditors, revoke the registration of the accounting firm, or impose penalties for violations or for unwillingness to cooperate with an investigation.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Power to suspend auditors, revoke the registration of the accounting firm, or impose penalties for violations or for unw\_\_\_\_\_\_\_ss to cooperate with an investigation.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Power to suspend auditors, revoke the registration of the accounting firm, or impose penalties for violations or for unwillingness to cooperate with an investigation.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Power to suspend auditors, revoke the registration of the accounting firm, or impose penalties for violations or for unwillingness to co\_\_\_\_\_\_\_\_ with an investigation.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Power to suspend auditors, revoke the registration of the accounting firm, or impose penalties for violations or for unwillingness to cooperate with an investigation.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Power to suspend auditors, revoke the registration of the accounting firm, or impose penalties for violations or for unwillingness to cooperate with an inv\_\_\_\_\_\_\_\_\_.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Power to suspend auditors, revoke the registration of the accounting firm, or impose penalties for violations or for unwillingness to cooperate with an investigation.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Provisions ap\_\_\_ to both domestic and foreign auditors.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Provisions apply to both domestic and foreign auditors.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Provisions apply to both do\_\_\_\_\_ and foreign auditors.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Provisions apply to both domestic and foreign auditors.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Provisions apply to both domestic and for\_\_\_\_ auditors.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Provisions apply to both domestic and foreign auditors.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Power to suspend auditors, revoke the registration of the accounting firm, or impose penalties for violations or for unwillingness to cooperate with an investigation. o Provisions apply to both domestic and foreign au\_\_\_\_\_s.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Power to suspend auditors, revoke the registration of the accounting firm, or impose penalties for violations or for unwillingness to cooperate with an investigation. o Provisions apply to both domestic and foreign auditors.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Monetary pe\_\_\_\_es for violation of board rules or securities law capped at $100K for an individual and $2M for an entity (if intentional breach $750K and $15M).
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Monetary penalties for violation of board rules or securities law capped at $100K for an individual and $2M for an entity (if intentional breach $750K and $15M).
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Monetary penalties for violation of board rules or securities law capped at $100K for an in\_\_\_\_\_\_\_\_ and $2M for an entity (if intentional breach $750K and $15M).
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Monetary penalties for violation of board rules or securities law capped at $100K for an individual and $2M for an entity (if intentional breach $750K and $15M).
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Monetary penalties for violation of board rules or securities law capped at $100K for an individual and $2M for an e\_\_\_\_y (if intentional breach $750K and $15M).
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Monetary penalties for violation of board rules or securities law capped at $100K for an individual and $2M for an entity (if intentional breach $750K and $15M).
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Monetary penalties for violation of board rules or securities law capped at $100K for an individual and $2M for an entity (if intentional br\_\_\_\_ $750K and $15M).
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Monetary penalties for violation of board rules or securities law capped at $100K for an individual and $2M for an entity (if intentional breach $750K and $15M).
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Monetary penalties for vi\_\_\_\_\_\_n of board rules or securities law capped at $100K for an individual and $2M for an entity (if intentional breach $750K and $15M).
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Monetary penalties for violation of board rules or securities law capped at $100K for an individual and $2M for an entity (if intentional breach $750K and $15M).
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Monetary penalties for violation of board rules or se\_\_\_\_\_ies law capped at $100K for an individual and $2M for an entity (if intentional breach $750K and $15M).
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Monetary penalties for violation of board rules or securities law capped at $100K for an individual and $2M for an entity (if intentional breach $750K and $15M).
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Monetary penalties for violation of board rules or securities law capped at $100K for an individual and $2M for an entity (if in\_\_\_\_\_\_\_\_l breach $750K and $15M).
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Monetary penalties for violation of board rules or securities law capped at $100K for an individual and $2M for an entity (if intentional breach $750K and $15M).
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Monetary penalties for violation of board ru\_\_s or securities law capped at $100K for an individual and $2M for an entity (if intentional breach $750K and $15M).
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Monetary penalties for violation of board rules or securities law capped at $100K for an individual and $2M for an entity (if intentional breach $750K and $15M).
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Power to suspend auditors, revoke the registration of the accounting firm, or impose penalties for violations or for unwillingness to cooperate with an investigation. o Provisions apply to both domestic and foreign auditors. o Monetary penalties for violation of board rules or securities law capped at $\_\_\_K for an individual and $2M for an entity (if intentional breach $750K and $15M).
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Power to suspend auditors, revoke the registration of the accounting firm, or impose penalties for violations or for unwillingness to cooperate with an investigation. o Provisions apply to both domestic and foreign auditors. o Monetary penalties for violation of board rules or securities law capped at $100K for an individual and $2M for an entity (if intentional breach $750K and $15M).
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Power to suspend auditors, revoke the registration of the accounting firm, or impose penalties for violations or for unwillingness to cooperate with an investigation. o Provisions apply to both domestic and foreign auditors. o Monetary penalties for violation of board rules or securities law capped at $100K for an individual and $_M for an entity (if intentional breach $750K and $15M).
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Power to suspend auditors, revoke the registration of the accounting firm, or impose penalties for violations or for unwillingness to cooperate with an investigation. o Provisions apply to both domestic and foreign auditors. o Monetary penalties for violation of board rules or securities law capped at $100K for an individual and $2M for an entity (if intentional breach $750K and $15M).
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives B____ authority to conduct investigations and obtain all relevant info.
o Power to suspend auditors, revoke the registration of the accounting firm, or impose penalties for violations or for unwillingness to cooperate with an investigation. o Provisions apply to both domestic and foreign auditors. o Monetary penalties for violation of board rules or securities law capped at $100K for an individual and $2M for an entity (if intentional breach $750K and $15M).
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 105 – Gives Board authority to conduct investigations and obtain all relevant info.
o Power to suspend auditors, revoke the registration of the accounting firm, or impose penalties for violations or for unwillingness to cooperate with an investigation. o Provisions apply to both domestic and foreign auditors. o Monetary penalties for violation of board rules or securities law capped at $100K for an individual and $2M for an entity (if intentional breach $750K and $15M).
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 106 – Regulates foreign pu____ accounting firms furnishing an audit report to an issuer and requires them to comply with board requests.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 106 – Regulates foreign public accounting firms furnishing an audit report to an issuer and requires them to comply with board requests.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 106 – Regulates foreign public acc____ting firms furnishing an audit report to an issuer and requires them to comply with board requests.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 106 – Regulates foreign public accounting firms furnishing an audit report to an issuer and requires them to comply with board requests.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 106 – Regulates foreign public accounting firms furnishing an au___ re____ to an issuer and requires them to comply with board requests.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 106 – Regulates foreign public accounting firms furnishing an audit report to an issuer and requires them to comply with board requests.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 106 – Regulates foreign public accounting firms furnishing an audit report to an is__er and requires them to comply with board requests.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 106 – Regulates foreign public accounting firms furnishing an audit report to an issuer and requires them to comply with board requests.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 106 – Regulates foreign public accounting firms furnishing an audit report to an issuer and requires them to com___ with board requests.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 106 – Regulates foreign public accounting firms furnishing an audit report to an issuer and requires them to comply with board requests.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 106 – Re______es foreign public accounting firms furnishing an audit report to an issuer and requires them to comply with board requests.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 106 – Regulates foreign public accounting firms furnishing an audit report to an issuer and requires them to comply with board requests.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 106 – Regulates for___n public accounting firms furnishing an audit report to an issuer and requires them to comply with board requests.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 106 – Regulates foreign public accounting firms furnishing an audit report to an issuer and requires them to comply with board requests.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 106 – Regulates foreign public accounting firms fu____ing an audit report to an issuer and requires them to comply with board requests.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 106 – Regulates foreign public accounting firms furnishing an audit report to an issuer and requires them to comply with board requests.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 107 – Gives SEC oversight and enforcement authority over the Board and its de______s.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
• 107 – Gives SEC oversight and enforcement authority over the Board and its decisions.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 107 – Gives ___ oversight and enforcement authority over the Board and its decisions.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 107 – Gives SEC oversight and enforcement authority over the Board and its decisions.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 107 – Gives SEC oversight and enf_______ authority over the Board and its decisions.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 107 – Gives SEC oversight and enforcement authority over the Board and its decisions.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 107 – Gives SEC oversight and enforcement au_____y over the Board and its decisions.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 107 – Gives SEC oversight and enforcement authority over the Board and its decisions.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933 to allow the SEC
to adopt the accounting st_______s established by a standard setting body
that meets certain qualifications, such as the FASB.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933 to allow the SEC, which has the authority to establish accounting standards,
to adopt the accounting standards established by a standard setting body
that meets certain qualifications, such as the FASB.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933 to allow the SEC
to adopt the accounting standards established by a standard setting body
that meets certain qu_________s, such as the FASB.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933 to allow the SEC
to adopt the accounting standards established by a standard setting body
that meets certain qualifications, such as the FASB.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933 to allow the SEC
to ad___ the accounting standards established by a standard setting body
that meets certain qualifications, such as the FASB.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933 to allow the SEC
to adopt the accounting standards established by a standard setting body
that meets certain qualifications, such as the FASB.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – A_____s the Securities Act of 1933 to allow the SEC
to adopt the accounting standards established by a standard setting body
that meets certain qualifications, such as the FASB.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933 to allow the SEC
to adopt the accounting standards established by a standard setting body
that meets certain qualifications, such as the FASB.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933 to allow the S___
to adopt the accounting standards established by a standard setting body
that meets certain qualifications, such as the FASB.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933 to allow the SEC
to adopt the accounting standards established by a standard setting body
that meets certain qualifications, such as the FASB.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933 to allow the SEC
to adopt the acc_____ing standards established by a standard setting body
that meets certain qualifications, such as the FASB.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933 to allow the SEC
to adopt the accounting standards established by a standard setting body
that meets certain qualifications, such as the FASB.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933 to allow the SEC
to adopt the accounting standards established by a standard setting body
that m____s certain qualifications, such as the FASB.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933 to allow the SEC
to adopt the accounting standards established by a standard setting body
that meets certain qualifications, such as the FASB.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933 to allow the SEC, which has the authority to es_____ accounting standards,
to adopt the accounting standards established by a standard setting body that meets certain qualifications, such as the FASB.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933 to allow the SEC, which has the authority to establish accounting standards,
to adopt the accounting standards established by a standard setting body that meets certain qualifications, such as the FASB.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933 to allow the SEC, which has the authority to establish accounting standards,
to adopt the accounting standards established by a standard setting body that meets certain qualifications, such as the FASB.
o Required study of accounting pr\_\_\_\_\_\_\_s, including content, structure, and standard-setting process.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933
o Required study of accounting principles, including content, structure, and standard-setting process.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933 to allow the SEC, which has the authority to establish accounting standards,
to adopt the accounting standards established by a standard setting body that meets certain qualifications, such as the FASB.
o Required st\_\_\_ of accounting principles, including content, structure, and standard-setting process.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933
o Required study of accounting principles, including content, structure, and standard-setting process.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933 to allow the SEC, which has the authority to establish accounting standards,
to adopt the accounting standards established by a standard setting body that meets certain qualifications, such as the FASB.
o Required study of accounting principles, including co\_\_\_\_\_, structure, and standard-setting process.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933
o Required study of accounting principles, including content, structure, and standard-setting process.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933 to allow the SEC, which has the authority to establish accounting standards,
to adopt the accounting standards established by a standard setting body that meets certain qualifications, such as the FASB.
o Required study of accounting principles, including content, st\_\_\_\_\_\_\_e, and standard-setting process.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933
o Required study of accounting principles, including content, structure, and standard-setting process.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933 to allow the SEC, which has the authority to establish accounting standards,
to adopt the accounting standards established by a standard setting body that meets certain qualifications, such as the FASB.
o Required study of accounting principles, including content, structure, and standard-s\_\_\_ing process.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933
o Required study of accounting principles, including content, structure, and standard-setting process.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933 to allow the SEC, which has the authority to establish accounting standards,
to adopt the accounting standards established by a standard setting body that meets certain qualifications, such as the FASB.
o Re\_\_\_ed study of accounting principles, including content, structure, and standard-setting process.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933
o Required study of accounting principles, including content, structure, and standard-setting process.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933 to allow the SEC, which has the authority to establish accounting standards,
to adopt the accounting standards established by a standard setting body that meets certain qualifications, such as the FASB.
o Made re\_\_\_\_\_\_\_\_\_\_\_s to FASB, resulting in development of the Codification, and adopted FASB standards as amended by SEC pronouncements.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933
o Made recommendations to FASB, resulting in development of the Codification, and adopted FASB standards as amended by SEC pronouncements.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933 to allow the SEC, which has the authority to establish accounting standards,
to adopt the accounting standards established by a standard setting body that meets certain qualifications, such as the FASB.
o Made recommendations to F\_\_\_\_, resulting in development of the Codification, and adopted FASB standards as amended by SEC pronouncements.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933
o Made recommendations to FASB, resulting in development of the Codification, and adopted FASB standards as amended by SEC pronouncements.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933 to allow the SEC, which has the authority to establish accounting standards,
to adopt the accounting standards established by a standard setting body that meets certain qualifications, such as the FASB.
o Made recommendations to FASB, resulting in de\_\_\_\_\_\_\_\_\_ of the Codification, and adopted FASB standards as amended by SEC pronouncements.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933
o Made recommendations to FASB, resulting in development of the Codification, and adopted FASB standards as amended by SEC pronouncements.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933 to allow the SEC, which has the authority to establish accounting standards,
to adopt the accounting standards established by a standard setting body that meets certain qualifications, such as the FASB.
o Made recommendations to FASB, resulting in development of the Co\_\_\_\_\_\_\_\_n,
and adopted FASB standards as amended by SEC pronouncements.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933
o Made recommendations to FASB, resulting in development of the Codification, and adopted FASB standards as amended by SEC pronouncements.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933 to allow the SEC, which has the authority to establish accounting standards,
to adopt the accounting standards established by a standard setting body that meets certain qualifications, such as the FASB.
o Made recommendations to FASB, resulting in development of the Codification,
and adopted FASB standards as amended by SEC pro__________s.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933
o Made recommendations to FASB, resulting in development of the Codification,
and adopted FASB standards as amended by SEC pronouncements.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933 to allow the SEC, which has the authority to establish accounting standards,
to adopt the accounting standards established by a standard setting body that meets certain qualifications, such as the FASB.
o Made recommendations to FASB, resulting in development of the Codification,
and ad___ed FASB standards as amended by SEC pronouncements.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933
o Made recommendations to FASB, resulting in development of the Codification,
and adopted FASB standards as amended by SEC pronouncements.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933 to allow the SEC, which has the authority to establish accounting standards,
to adopt the accounting standards established by a standard setting body that meets certain qualifications, such as the FASB.
o Required study of accounting principles, including content, structure, and standard-setting process. o Made recommendations to FASB, resulting in development of the Codification, and adopted FASB standards as am\_\_\_ed by SEC pronouncements.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933 to allow the SEC, which has the authority to establish accounting standards,
to adopt the accounting standards established by a standard setting body that meets certain qualifications, such as the FASB.
o Required study of accounting principles, including content, structure, and standard-setting process. o Made recommendations to FASB, resulting in development of the Codification, and adopted FASB standards as amended by SEC pronouncements.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933 to allow the SEC, which has the authority to establish accounting standards,
to adopt the accounting standards established by a standard setting body that meets certain qualifications, such as the FASB.
o Required study of accounting principles, including content, structure, and standard-setting process. o Ma\_\_ recommendations to FASB, resulting in development of the Codification, and adopted FASB standards as amended by SEC pronouncements.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933 to allow the SEC, which has the authority to establish accounting standards,
to adopt the accounting standards established by a standard setting body that meets certain qualifications, such as the FASB.
o Required study of accounting principles, including content, structure, and standard-setting process. o Made recommendations to FASB, resulting in development of the Codification, and adopted FASB standards as amended by SEC pronouncements.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933 to allow the SEC, which has the authority to establish accounting standards,
to adopt the accounting standards established by a standard setting body that meets certain qualifications, such as the FASB.
o Required study of accounting principles, including content, structure, and standard-setting process. o Made recommendations to FASB, resulting in development of the Codification, and adopted FASB standards as amended by \_\_\_ pronouncements.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 108 – Amends the Securities Act of 1933 to allow the SEC, which has the authority to establish accounting standards,
to adopt the accounting standards established by a standard setting body that meets certain qualifications, such as the FASB.
o Required study of accounting principles, including content, structure, and standard-setting process. o Made recommendations to FASB, resulting in development of the Codification, and adopted FASB standards as amended by SEC pronouncements.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 109 – Calls for funding of the Board and the designated accounting st______-setting body (FASB) to be funded from fees imposed upon public companies.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 109 – Calls for funding of the Board and the designated accounting standard-setting body (FASB) to be funded from fees imposed upon public companies.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 109 – Calls for funding of the Board and the designated accounting standard-setting body (F____) to be funded from fees imposed upon public companies.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 109 – Calls for funding of the Board and the designated accounting standard-setting body (FASB) to be funded from fees imposed upon public companies.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 109 – Calls for funding of the Board and the designated accounting standard-setting body (FASB) to be funded from f__s imposed upon public companies.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 109 – Calls for funding of the Board and the designated accounting standard-setting body (FASB) to be funded from fees imposed upon public companies.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 109 – Calls for funding of the Board and the designated accounting standard-setting body (FASB) to be funded from fees imposed upon pu____ companies.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 109 – Calls for funding of the Board and the designated accounting standard-setting body (FASB) to be funded from fees imposed upon public companies.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 109 – Calls for f___ing of the Board and the designated accounting standard-setting body (FASB) to be f___ed from fees imposed upon public companies.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
• 109 – Calls for funding of the Board and the designated accounting standard-setting body (FASB) to be funded from fees imposed upon public companies.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
- 101 – Establishes the Board (PCAOB)
- 102 – Requires public accounting firms to register with the Board (PCAOB)
• 103 – Authorizes the Board (PCAOB) to establish audit, quality control, and ethics standards. The board (PCAOB) also inspects, investigates, and disciplines public accounting firms and enforces compliance.
• 104 – Provides for Quality Control Peer Review Inspections to be conducted by the Board (PCAOB)
• 105 – Gives Board (PCAOB) authority to conduct investigations and obtain all relevant info.
Power to suspend auditors, revoke the registration of the accounting firm, or impose penalties for violations
- 106 – Regulates foreign public accounting firms furnishing an audit report to an issuer and requires them to comply with board requests.
- 107 – Gives SEC oversight and enforcement authority over the Board (PCAOB) and its decisions.
• 108 – Amends the Securities Act of 1933 to allow the SEC to adopt the accounting standards that meets certain qualifications, such as the FASB.
Required study of accounting principles
Made recommendations to FASB,
• 109 – Calls for funding of the Board and the designated accounting standard-setting body (FASB) to be funded from fees imposed upon public companies.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
- 101 – Establishes the Board (PCAOB)
- 102 – Requires public accounting firms to register with the Board (PCAOB)
• 103 – Authorizes the Board (PCAOB) to establish audit, quality control, and ethics standards. The board (PCAOB) also inspects, investigates, and disciplines public accounting firms and enforces compliance.
• 104 – Provides for Quality Control Peer Review Inspections to be conducted by the Board (PCAOB)
• 105 – Gives Board (PCAOB) authority to conduct investigations and obtain all relevant info.
Power to suspend auditors, revoke the registration of the accounting firm, or impose penalties for violations
- 106 – Regulates foreign public accounting firms furnishing an audit report to an issuer and requires them to comply with board requests.
- 107 – Gives SEC oversight and enforcement authority over the Board (PCAOB) and its decisions.
• 108 – Amends the Securities Act of 1933 to allow the SEC to adopt the accounting standards that meets certain qualifications, such as the FASB.
Required study of accounting principles
Made recommendations to FASB,
• 109 – Calls for funding of the Board and the designated accounting standard-setting body (FASB) to be funded from fees imposed upon public companies.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
- 101 – Establishes the Board (PCAOB)
- 102 – Requires public accounting firms to register with the Board
- 103 – Authorizes the Board to establish audit, quality control, and ethics standards. The board also inspects, investigates, and disciplines public accounting firms and enforces compliance.
- 104 – Provides for Quality Control Peer Review Inspections to be conducted by the Board
- 105 – Gives Board (PCAOB) authority to conduct investigations and obtain all relevant info. Power to suspend auditors, revoke the registration of the accounting firm, or impose penalties for violations
- 106 – Regulates foreign public accounting firms furnishing an audit report to an issuer and requires them to comply with board requests.
- 107 – Gives SEC oversight and enforcement authority over the Board and its decisions.
- 108 – Amends the Securities Act of 1933 to allow the SEC to adopt the accounting standards that meets certain qualifications, such as the FASB.
- 109 – Calls for funding of the Board and the designated accounting standard-setting body (FASB) to be funded from fees imposed upon public companies.
Sarbanes-Oxley Act (SOX)
Title I – Public Accounting Oversight Board (sections)
- 101 – Establishes the Board (PCAOB)
- 102 – Requires public accounting firms to register with the Board
- 103 – Authorizes the Board to establish audit, quality control, and ethics standards. The board also inspects, investigates, and disciplines public accounting firms and enforces compliance.
- 104 – Provides for Quality Control Peer Review Inspections to be conducted by the Board
- 105 – Gives Board (PCAOB) authority to conduct investigations and obtain all relevant info. Power to suspend auditors, revoke the registration of the accounting firm, or impose penalties for violations
- 106 – Regulates foreign public accounting firms furnishing an audit report to an issuer and requires them to comply with board requests.
- 107 – Gives SEC oversight and enforcement authority over the Board and its decisions.
- 108 – Amends the Securities Act of 1933 to allow the SEC to adopt the accounting standards that meets certain qualifications, such as the FASB.
- 109 – Calls for funding of the Board and the designated accounting standard-setting body (FASB) to be funded from fees imposed upon public companies.
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
Title II – Auditor Independence
Title III – Corporate Responsibility
Title IV – Enhanced Financial Disclosures
Title V – Analyst Conflict of Interest
Title VI – Commission Resources and Authority
Title VII – Studies and Reports
Title VIII – Corporate and Criminal Fraud Accountability
Title IX – White Collar Crime Penalty Enhancements
Sarbanes-Oxley Act (SOX)
Relevant provisions follow:
Title I – Public Accounting Oversight Board (sections)
Title II – Auditor Independence
Title III – Corporate Responsibility
Title IV – Enhanced Financial Disclosures
Title V – Analyst Conflict of Interest
Title VI – Commission Resources and Authority
Title VII – Studies and Reports
Title VIII – Corporate and Criminal Fraud Accountability
Title IX – White Collar Crime Penalty Enhancements
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – Prohibits any registered public accounting firm from providing the following non-audit services to Audit clients:
Bookkeeping,
Financial info system design or implementation,
Appraisal or valuation services,
Actuarial services,
Internal audit outsourcing,
Management functions or HR,
Broker or dealer investment advisor or investment banking services,
Legal services
202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
- 203 – Establishes mandatory and substantive rotation of audit partner and partner responsible for review every 5 years.
- 204 – Requires audit firm to report to the audit committee: Critical accounting policies, Alternative accounting treatments, Material written communications
- 205 – Defines the term audit committee
- 206 – Prohibits the audit firm from providing audit services for issuer if the CEO, controller, CFO, CAO was employed in the audit practice of the accounting firm during the one-year period prior to the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – Prohibits any registered public accounting firm from providing the following non-audit services to Audit clients:
Bookkeeping,
Financial info system design or implementation,
Appraisal or valuation services,
Actuarial services,
Internal audit outsourcing,
Management functions or HR,
Broker or dealer investment advisor or investment banking services,
Legal services
202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
- 203 – Establishes mandatory and substantive rotation of audit partner and partner responsible for review every 5 years.
- 204 – Requires audit firm to report to the audit committee: Critical accounting policies, Alternative accounting treatments, Material written communications
- 205 – Defines the term audit committee
- 206 – Prohibits the audit firm from providing audit services for issuer if the CEO, controller, CFO, CAO was employed in the audit practice of the accounting firm during the one-year period prior to the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any re_____ed public accounting firm from providing the following non-audit services to Audit clients:
o Bookkeeping or other services related to the accounting records. o Financial info systems design or implementation. o Appraisal or valuation services, or providing fairness opinions or contribution-in-kind reports. o Actuarial services.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Bookkeeping or other services related to the accounting records. o Financial info systems design or implementation. o Appraisal or valuation services, or providing fairness opinions or contribution-in-kind reports. o Actuarial services.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o B\_\_\_\_\_\_\_\_\_ing or other services related to the accounting records.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Bookkeeping or other services related to the accounting records.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Bookkeeping or other services related to the accounting r\_\_\_\_\_\_s.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Bookkeeping or other services related to the accounting records.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Bookkeeping or other services related to the accounting records. o F\_\_\_\_\_\_\_ info systems design or implementation.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Bookkeeping or other services related to the accounting records. o Financial info systems design or implementation.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Bookkeeping or other services related to the accounting records. o Financial i\_\_\_ systems design or implementation.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Bookkeeping or other services related to the accounting records. o Financial info systems design or implementation.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Bookkeeping or other services related to the accounting records. o Financial info systems d\_\_\_\_\_ or implementation.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Bookkeeping or other services related to the accounting records. o Financial info systems design or implementation.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Bookkeeping or other services related to the accounting records. o Financial info systems design or implementation. o Appraisal or v\_\_\_\_\_\_\_\_n services, or providing fairness opinions or contribution-in-kind reports.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Bookkeeping or other services related to the accounting records. o Financial info systems design or implementation. o Appraisal or valuation services, or providing fairness opinions or contribution-in-kind reports.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Bookkeeping or other services related to the accounting records. o Financial info systems design or implementation. o Ap\_\_\_\_\_\_\_l or valuation services, or providing fairness opinions or contribution-in-kind reports.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Bookkeeping or other services related to the accounting records. o Financial info systems design or implementation. o Appraisal or valuation services, or providing fairness opinions or contribution-in-kind reports.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Bookkeeping or other services related to the accounting records. o Financial info systems design or implementation. o Appraisal or valuation services, or providing f\_\_\_\_ss opinions or contribution-in-kind reports. o Actuarial services.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Bookkeeping or other services related to the accounting records. o Financial info systems design or implementation. o Appraisal or valuation services, or providing fairness opinions or contribution-in-kind reports. o Actuarial services.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Bookkeeping or other services related to the accounting records. o Financial info systems design or implementation. o Appraisal or valuation services, or providing fairness op\_\_\_\_\_s or contribution-in-kind reports. o Actuarial services.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Bookkeeping or other services related to the accounting records. o Financial info systems design or implementation. o Appraisal or valuation services, or providing fairness opinions or contribution-in-kind reports. o Actuarial services.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Bookkeeping or other services related to the accounting records. o Financial info systems design or implementation. o Appraisal or valuation services, or providing fairness opinions or contribution-in-kind reports. o Ac\_\_\_\_\_\_l services.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Bookkeeping or other services related to the accounting records. o Financial info systems design or implementation. o Appraisal or valuation services, or providing fairness opinions or contribution-in-kind reports. o Actuarial services.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o I\_\_\_\_\_\_ audit outsourcing services.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Internal audit outsourcing services.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Internal audit o\_\_\_\_\_\_\_\_ing services.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Internal audit outsourcing services.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Internal audit outsourcing services. o M\_\_\_\_\_\_\_\_\_ functions or human resources.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Internal audit outsourcing services. o Management functions or human resources.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Internal audit outsourcing services. o Management functions or h\_\_\_\_ resources.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Internal audit outsourcing services. o Management functions or human resources.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Internal audit outsourcing services. o Management functions or human resources. o B\_\_\_er or d\_\_\_ler investment advisor or investment banking services.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Internal audit outsourcing services. o Management functions or human resources. o Broker or dealer investment advisor or investment banking services.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Internal audit outsourcing services. o Management functions or human resources. o Broker or dealer i\_\_\_\_\_\_\_\_\_ advisor or investment banking services.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Internal audit outsourcing services. o Management functions or human resources. o Broker or dealer investment advisor or investment banking services.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Internal audit outsourcing services. o Management functions or human resources. o Broker or dealer investment advisor or investment b\_\_\_ing services.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Internal audit outsourcing services. o Management functions or human resources. o Broker or dealer investment advisor or investment banking services.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Internal audit outsourcing services. o Management functions or human resources. o Broker or dealer investment advisor or investment banking services. o L\_\_\_\_ services and expert services that are unrelated to the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Internal audit outsourcing services. o Management functions or human resources. o Broker or dealer investment advisor or investment banking services. o Legal services and expert services that are unrelated to the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Internal audit outsourcing services. o Management functions or human resources. o Broker or dealer investment advisor or investment banking services. o Legal services and expert services that are un\_\_\_\_\_ed to the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Internal audit outsourcing services. o Management functions or human resources. o Broker or dealer investment advisor or investment banking services. o Legal services and expert services that are unrelated to the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Internal audit outsourcing services. o Management functions or human resources. o Broker or dealer investment advisor or investment banking services. o Legal services and e\_\_\_\_\_t services that are unrelated to the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Internal audit outsourcing services. o Management functions or human resources. o Broker or dealer investment advisor or investment banking services. o Legal services and expert services that are unrelated to the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Any other service the board determines imp\_\_\_\_\_\_\_\_ble. ▪ Tax services are still permissible if preapproved by the audit committee and disclosed to the SEC. ▪ May still perform these services to nonaudit clients or to private companies.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Any other service the board determines impermissible. ▪ Tax services are still permissible if preapproved by the audit committee and disclosed to the SEC. ▪ May still perform these services to nonaudit clients or to private companies.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Any other service the board determines impermissible. ▪ T\_\_ services are still permissible if preapproved by the audit committee and disclosed to the SEC. ▪ May still perform these services to nonaudit clients or to private companies.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Any other service the board determines impermissible. ▪ Tax services are still permissible if preapproved by the audit committee and disclosed to the SEC. ▪ May still perform these services to nonaudit clients or to private companies.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Any other service the board determines impermissible. ▪ Tax services are still permissible if pre\_\_\_\_\_\_\_ed by the audit committee and disclosed to the SEC. ▪ May still perform these services to nonaudit clients or to private companies.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Any other service the board determines impermissible. ▪ Tax services are still permissible if preapproved by the audit committee and disclosed to the SEC. ▪ May still perform these services to nonaudit clients or to private companies.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Any other service the board determines impermissible. ▪ Tax services are still permissible if preapproved by the audit co\_\_\_\_\_\_\_ee and disclosed to the SEC. ▪ May still perform these services to nonaudit clients or to private companies.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Any other service the board determines impermissible. ▪ Tax services are still permissible if preapproved by the audit committee and disclosed to the SEC. ▪ May still perform these services to nonaudit clients or to private companies.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Any other service the board determines impermissible. ▪ Tax services are still permissible if preapproved by the audit committee and disclosed to the \_\_\_. ▪ May still perform these services to nonaudit clients or to private companies.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Any other service the board determines impermissible. ▪ Tax services are still permissible if preapproved by the audit committee and disclosed to the SEC. ▪ May still perform these services to nonaudit clients or to private companies.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Any other service the board determines impermissible. ▪ Tax services are still permissible if preapproved by the audit committee and disclosed to the SEC. ▪ May still perform these services to nonaudit clients or to p\_\_\_\_\_ companies.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Any other service the board determines impermissible. ▪ Tax services are still permissible if preapproved by the audit committee and disclosed to the SEC. ▪ May still perform these services to nonaudit clients or to private companies.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Any other service the board determines impermissible. ▪ Tax services are still permissible if preapproved by the audit committee and disclosed to the SEC. ▪ May still perform these services to non\_\_\_\_\_ clients or to private companies.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Any other service the board determines impermissible. ▪ Tax services are still permissible if preapproved by the audit committee and disclosed to the SEC. ▪ May still perform these services to nonaudit clients or to private companies.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from pro___ing the following non-audit services to Audit clients:
o Bookkeeping or other services related to the accounting records. o Financial info systems design or implementation. o Appraisal or valuation services, or providing fairness opinions or contribution-in-kind reports. o Actuarial services. o Internal audit outsourcing services. o Management functions or human resources. o Broker or dealer investment advisor or investment banking services. o Legal services and expert services that are unrelated to the audit. o Any other service the board determines impermissible. ▪ Tax services are still permissible if preapproved by the audit committee and disclosed to the SEC. ▪ May still perform these services to nonaudit clients or to private companies.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – PROHIBITS any registered public accounting firm from providing the following non-audit services to Audit clients:
o Bookkeeping or other services related to the accounting records. o Financial info systems design or implementation. o Appraisal or valuation services, or providing fairness opinions or contribution-in-kind reports. o Actuarial services. o Internal audit outsourcing services. o Management functions or human resources. o Broker or dealer investment advisor or investment banking services. o Legal services and expert services that are unrelated to the audit. o Any other service the board determines impermissible. ▪ Tax services are still permissible if preapproved by the audit committee and disclosed to the SEC. ▪ May still perform these services to nonaudit clients or to private companies.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – Prohibits any registered public accounting firm from providing the following non-a____ services to Audit clients:
Bookkeeping,
Financial info system design or implementation,
Appraisal or valuation services,
Actuarial services,
Internal audit outsourcing,
Management functions or HR,
Broker or dealer investment advisor or investment banking services,
Legal services
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – Prohibits any registered public accounting firm from providing the following non-audit services to Audit clients:
Bookkeeping,
Financial info system design or implementation,
Appraisal or valuation services,
Actuarial services,
Internal audit outsourcing,
Management functions or HR,
Broker or dealer investment advisor or investment banking services,
Legal services
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to pre_______ all auditing and non-auditing services to be provided to an issuer.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all a____ing and non-auditing services to be provided to an issuer.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-____ting services to be provided to an issuer.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove ___ auditing and non-auditing services to be provided to an issuer.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an i___er.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
All nonaudit services that are not pro_____ed are also required to be preapproved unless they are considered de minimis.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
All nonaudit services that are not prohibited are also required to be preapproved unless they are considered de minimis.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
All nonaudit services that are not prohibited are also re____ed to be preapproved unless they are considered de minimis.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
All nonaudit services that are not prohibited are also required to be preapproved unless they are considered de minimis.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
All nonaudit services that are not prohibited are also required to be pre_____ed unless they are considered de minimis.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
All nonaudit services that are not prohibited are also required to be preapproved unless they are considered de minimis.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
All nonaudit services that are not prohibited are also required to be preapproved unless they are considered de m____is.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
All nonaudit services that are not prohibited are also required to be preapproved unless they are considered de minimis.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
___ nonaudit services that are not prohibited are also required to be preapproved unless they are considered de minimis.
De minimis nonaudit services entail fees that do not exceed 5% of the total fees paid to the auditor.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
All nonaudit services that are not prohibited are also required to be preapproved unless they are considered de minimis.
De minimis nonaudit services entail fees that do not exceed 5% of the total fees paid to the auditor.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
All nonaudit services that are not prohibited are also required to be preapproved unless they are considered de minimis.
De m_____s nonaudit services entail fees that do not exceed 5% of the total fees paid to the auditor.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
All nonaudit services that are not prohibited are also required to be preapproved unless they are considered de minimis.
De minimis nonaudit services entail fees that do not exceed 5% of the total fees paid to the auditor.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
All nonaudit services that are not prohibited are also required to be preapproved unless they are considered de minimis.
De minimis nonaudit services entail f__s that do not exceed 5% of the total fees paid to the auditor.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
All nonaudit services that are not prohibited are also required to be preapproved unless they are considered de minimis.
De minimis nonaudit services entail fees that do not exceed 5% of the total fees paid to the auditor.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
All nonaudit services that are not prohibited are also required to be preapproved unless they are considered de minimis.
De minimis nonaudit services entail fees that do not exceed 5% of the total fees paid to the a____or.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
All nonaudit services that are not prohibited are also required to be preapproved unless they are considered de minimis.
De minimis nonaudit services entail fees that do not exceed 5% of the total fees paid to the auditor.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
All nonaudit services that are not prohibited are also required to be preapproved unless they are considered de minimis.
De minimis nonaudit services entail fees that do not exceed _% of the total fees paid to the auditor.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
All nonaudit services that are not prohibited are also required to be preapproved unless they are considered de minimis.
De minimis nonaudit services entail fees that do not exceed 5% of the total fees paid to the auditor.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
All nonaudit services that are not prohibited are also required to be preapproved unless they are considered de minimis.
De minimis nonaudit services entail fees that do not e______ 5% of the total fees paid to the auditor.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
All nonaudit services that are not prohibited are also required to be preapproved unless they are considered de minimis.
De minimis nonaudit services entail fees that do not exceed 5% of the total fees paid to the auditor.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
All nonaudit services that are not prohibited are also required to be preapproved unless they are considered de minimis.
De minimis non_____ services entail fees that do not exceed 5% of the total fees paid to the auditor.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
All nonaudit services that are not prohibited are also required to be preapproved unless they are considered de minimis.
De minimis nonaudit services entail fees that do not exceed 5% of the total fees paid to the auditor.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
All nonaudit services that are not prohibited are also required to be preapproved unless they are considered de minimis.
De minimis nonaudit services entail fees that do not exceed 5% of the total fees paid to the auditor.
In addition, the client must not have re______ed the services as nonaudit services at the time of the engagement
and the services were promptly brought to the attention of the audit committee and approval was obtained prior to the completion of the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
All nonaudit services that are not prohibited are also required to be preapproved unless they are considered de minimis.
De minimis nonaudit services entail fees that do not exceed 5% of the total fees paid to the auditor.
In addition, the client must not have recognized the services as nonaudit services at the time of the engagement
and the services were promptly brought to the attention of the audit committee and approval was obtained prior to the completion of the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
All nonaudit services that are not prohibited are also required to be preapproved unless they are considered de minimis.
De minimis nonaudit services entail fees that do not exceed 5% of the total fees paid to the auditor.
In addition, the client must not have recognized the services as non_____ services at the time of the engagement
and the services were promptly brought to the attention of the audit committee and approval was obtained prior to the completion of the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
In addition, the client must not have recognized the services as nonaudit services at the time of the engagement
and the services were promptly brought to the attention of the audit committee and approval was obtained prior to the completion of the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
All nonaudit services that are not prohibited are also required to be preapproved unless they are considered de minimis.
De minimis nonaudit services entail fees that do not exceed 5% of the total fees paid to the auditor.
In addition, the client must not have recognized the services as nonaudit services at the time of the e___________
and the services were promptly brought to the attention of the audit committee and approval was obtained prior to the completion of the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
In addition, the client must not have recognized the services as nonaudit services at the time of the engagement
and the services were promptly brought to the attention of the audit committee and approval was obtained prior to the completion of the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
All nonaudit services that are not prohibited are also required to be preapproved unless they are considered de minimis.
De minimis nonaudit services entail fees that do not exceed 5% of the total fees paid to the auditor.
In addition, the client must not have recognized the services as nonaudit services at the time of the engagement
and the services were promptly brought to the attention of the a____ committee and approval was obtained prior to the completion of the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
In addition, the client must not have recognized the services as nonaudit services at the time of the engagement
and the services were promptly brought to the attention of the audit committee and approval was obtained prior to the completion of the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
All nonaudit services that are not prohibited are also required to be preapproved unless they are considered de minimis.
De minimis nonaudit services entail fees that do not exceed 5% of the total fees paid to the auditor.
In addition, the client must not have recognized the services as nonaudit services at the time of the engagement
and the services were promptly brought to the attention of the audit committee and ap_____l was obtained prior to the completion of the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
In addition, the client must not have recognized the services as nonaudit services at the time of the engagement
and the services were promptly brought to the attention of the audit committee and approval was obtained prior to the completion of the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
All nonaudit services that are not prohibited are also required to be preapproved unless they are considered de minimis.
De minimis nonaudit services entail fees that do not exceed 5% of the total fees paid to the auditor.
In addition, the client must not have recognized the services as nonaudit services at the time of the engagement
and the services were promptly brought to the attention of the audit committee and approval was obtained p____ to the completion of the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
In addition, the client must not have recognized the services as nonaudit services at the time of the engagement
and the services were promptly brought to the attention of the audit committee and approval was obtained prior to the completion of the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
All nonaudit services that are not prohibited are also required to be preapproved unless they are considered de minimis.
De minimis nonaudit services entail fees that do not exceed 5% of the total fees paid to the auditor.
In addition, the client must not have recognized the services as nonaudit services at the time of the engagement
and the services were promptly brought to the attention of the audit committee and approval was obtained prior to the com_______n of the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
In addition, the client must not have recognized the services as nonaudit services at the time of the engagement
and the services were promptly brought to the attention of the audit committee and approval was obtained prior to the completion of the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
All nonaudit services that are not prohibited are also required to be preapproved unless they are considered de minimis.
De minimis nonaudit services entail fees that do not exceed 5% of the total fees paid to the auditor.
In addition, the c____ must not have recognized the services as nonaudit services at the time of the engagement
and the services were promptly brought to the attention of the audit committee and approval was obtained prior to the completion of the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
All nonaudit services that are not prohibited are also required to be preapproved unless they are considered de minimis.
De minimis nonaudit services entail fees that do not exceed 5% of the total fees paid to the auditor.
In addition, the client must not have recognized the services as nonaudit services at the time of the engagement
and the services were promptly brought to the attention of the audit committee and approval was obtained prior to the completion of the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 203 – Establishes mandatory and substantive rotation of a____ partner and partner responsible for review every 5 years.
(not audit firm rotation)
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 203 – Establishes mandatory and substantive rotation of audit partner and partner responsible for review every 5 years.
(not audit firm rotation)
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 203 – Establishes mandatory and substantive rotation of audit partner and partner responsible for review every _ years.
(not audit firm rotation)
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 203 – Establishes mandatory and substantive rotation of audit partner and partner responsible for review every 5 years.
(not audit firm rotation)
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 203 – Establishes mandatory and substantive rotation of audit p_____r and partner responsible for review every 5 years.
(not audit firm rotation)
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 203 – Establishes mandatory and substantive rotation of audit partner and partner responsible for review every 5 years.
(not audit firm rotation)
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 203 – Establishes mandatory and substantive rotation of audit partner and partner r_________ for review every 5 years.
(not audit firm rotation)
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 203 – Establishes mandatory and substantive rotation of audit partner and partner responsible for review every 5 years.
(not audit firm rotation)
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 203 – Establishes mandatory and substantive rotation of audit partner and partner responsible for r_____ every 5 years.
(not audit firm rotation)
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 203 – Establishes mandatory and substantive rotation of audit partner and partner responsible for review every 5 years.
(not audit firm rotation)
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 203 – Establishes mandatory and substantive rotation of audit partner and partner responsible for review every 5 _____.
(not audit firm rotation)
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 203 – Establishes mandatory and substantive rotation of audit partner and partner responsible for review every 5 years.
(not audit firm rotation)
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 203 – Establishes mandatory and substantive rotation of audit partner and partner responsible for review e_____ 5 years.
(not audit firm rotation)
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 203 – Establishes mandatory and substantive rotation of audit partner and partner responsible for review every 5 years.
(not audit firm rotation)
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 203 – Establishes m_______y and substantive rotation of audit partner and partner responsible for review every 5 years.
(not audit firm rotation)
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 203 – Establishes mandatory and substantive rotation of audit partner and partner responsible for review every 5 years.
(not audit firm rotation)
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 203 – Establishes mandatory and su_______e rotation of audit partner and partner responsible for review every 5 years.
(not audit firm rotation)
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 203 – Establishes mandatory and substantive rotation of audit partner and partner responsible for review every 5 years.
(not audit firm rotation)
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 203 – Establishes mandatory and substantive r_______n of audit partner and partner responsible for review every 5 years.
(not audit firm rotation)
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 203 – Establishes mandatory and substantive rotation of audit partner and partner responsible for review every 5 years.
(not audit firm rotation)
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 204 – Requires audit firm to report to the audit co________:
o Critical accounting policies and practices
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 204 – Requires audit firm to report to the audit committee:
o Critical accounting policies and practices
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 204 – Requires audit firm to report to the audit committee:
o Critical acc_____ing policies and practices
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 204 – Requires audit firm to report to the audit committee:
o Critical accounting policies and practices
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 204 – Requires audit firm to report to the audit committee:
o Critical accounting po___ies and practices
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 204 – Requires audit firm to report to the audit committee:
o Critical accounting policies and practices
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 204 – Requires audit firm to report to the audit committee:
o Critical accounting policies and p____ices
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 204 – Requires audit firm to report to the audit committee:
o Critical accounting policies and practices
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 204 – Requires audit firm to report to the audit committee:
o C______ accounting policies and practices
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 204 – Requires audit firm to report to the audit committee:
o Critical accounting policies and practices
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 204 – Requires audit firm to re____ to the audit committee:
o Critical accounting policies and practices
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 204 – Requires audit firm to report to the audit committee:
o Critical accounting policies and practices
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 204 – Requires audit firm to report to the audit committee:
o Alternative accounting tr\_\_\_\_\_\_\_\_s within GAAP discussed with management
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 204 – Requires audit firm to report to the audit committee:
o Alternative accounting treatments within GAAP discussed with management
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 204 – Requires audit firm to report to the audit committee:
o Alternative accounting treatments within GAAP discussed with m\_\_\_\_\_\_\_\_\_\_\_
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 204 – Requires audit firm to report to the audit committee:
o Alternative accounting treatments within GAAP discussed with management
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 204 – Requires audit firm to report to the audit committee:
o Al\_\_\_\_\_\_\_\_e accounting treatments within GAAP discussed with management
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 204 – Requires audit firm to report to the audit committee:
o Alternative accounting treatments within GAAP discussed with management
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 204 – Requires audit firm to report to the audit committee:
o Alternative accounting treatments within G\_\_\_\_ discussed with management
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 204 – Requires audit firm to report to the audit committee:
o Alternative accounting treatments within GAAP discussed with management
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 204 – Re_______s audit firm to report to the audit committee:
o Critical accounting policies and practices o Alternative accounting treatments within GAAP discussed with management
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 204 – Requires audit firm to report to the audit committee:
o Critical accounting policies and practices o Alternative accounting treatments within GAAP discussed with management
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 204 – Requires audit firm to report to the audit committee:
o Material written com\_\_\_\_\_\_\_\_s between auditor’s firm and management of the issuer
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 204 – Requires audit firm to report to the audit committee:
o Material written communications between auditor’s firm and management of the issuer
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 204 – Requires audit firm to report to the audit committee:
o Material w\_\_\_\_n communications between auditor’s firm and management of the issuer
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 204 – Requires audit firm to report to the audit committee:
o Material written communications between auditor’s firm and management of the issuer
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 204 – Requires audit firm to report to the audit committee:
o Critical accounting policies and practices o Alternative accounting treatments within GAAP discussed with management o M\_\_\_\_\_\_ written communications between auditor’s firm and management of the issuer
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 204 – Requires audit firm to report to the audit committee:
o Critical accounting policies and practices o Alternative accounting treatments within GAAP discussed with management o Material written communications between auditor’s firm and management of the issuer
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 204 – Requires a___ firm to report to the audit committee:
o Critical accounting policies and practices o Alternative accounting treatments within GAAP discussed with management o Material written communications between auditor’s firm and management of the issuer
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 204 – Requires audit firm to report to the audit committee:
o Critical accounting policies and practices o Alternative accounting treatments within GAAP discussed with management o Material written communications between auditor’s firm and management of the issuer
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 205 – Defines the term a___ committee
and indicates that
the entire board of directors is considered the audit committee when one has not been designated.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 205 – Defines the term audit committee
and indicates that
the entire board of directors is considered the audit committee when one has not been designated.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 205 – Defines the t___ audit committee
and indicates that
the entire board of directors is considered the audit committee when one has not been designated.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 205 – Defines the term audit committee
and indicates that
the entire board of directors is considered the audit committee when one has not been designated.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 205 – Defines the term audit committee
and indicates that
the en___ board of directors is considered the audit committee when one has not been designated.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 205 – Defines the term audit committee
and indicates that
the entire board of directors is considered the audit committee when one has not been designated.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 205 – Defines the term audit committee
and indicates that
the entire board of directors is considered the audit committee when one has not been de______ed.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 205 – Defines the term audit committee
and indicates that
the entire board of directors is considered the audit committee when one has not been designated.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 205 – Defines the term audit committee
and indicates that
the entire board of di______s is considered the audit committee when one has not been designated.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 205 – Defines the term audit committee
and indicates that
the entire board of directors is considered the audit committee when one has not been designated.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 206 – Prohibits the a____ firm from providing audit services for issuer
if the CEO, controller, CFO, CAO or any person serving in the equivalent capacity
was employed in the audit practice of the accounting firm during the one-year period prior to the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 206 – Prohibits the audit firm from providing audit services for issuer
if the CEO, controller, CFO, CAO or any person serving in the equivalent capacity
was employed in the audit practice of the accounting firm during the one-year period prior to the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 206 – Prohibits the audit firm from providing audit services for issuer
if the CEO, controller, CFO, CAO or any p_____ serving in the equivalent capacity
was employed in the audit practice of the accounting firm during the one-year period prior to the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 206 – Prohibits the audit firm from providing audit services for issuer
if the CEO, controller, CFO, CAO or any person serving in the equivalent capacity
was employed in the audit practice of the accounting firm during the one-year period prior to the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 206 – Prohibits the audit firm from providing audit services for issuer
if the CEO, controller, CFO, CAO or any person serving in the eq_______t capacity
was employed in the audit practice of the accounting firm during the one-year period prior to the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 206 – Prohibits the audit firm from providing audit services for issuer
if the CEO, controller, CFO, CAO or any person serving in the equivalent capacity
was employed in the audit practice of the accounting firm during the one-year period prior to the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 206 – Prohibits the audit firm from providing audit services for issuer
if the CEO, controller, CFO, CAO or any person serving in the equivalent capacity
was e______ed in the audit practice of the accounting firm during the one-year period prior to the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 206 – Prohibits the audit firm from providing audit services for issuer
if the CEO, controller, CFO, CAO or any person serving in the equivalent capacity
was employed in the audit practice of the accounting firm during the one-year period prior to the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 206 – Prohibits the audit firm from providing audit services for issuer
if the CEO, controller, CFO, CAO or any person serving in the equivalent capacity
was employed in the a____ practice of the accounting firm during the one-year period prior to the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 206 – Prohibits the audit firm from providing audit services for issuer
if the CEO, controller, CFO, CAO or any person serving in the equivalent capacity
was employed in the audit practice of the accounting firm during the one-year period prior to the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 206 – Prohibits the audit firm from providing audit services for issuer
if the CEO, controller, CFO, CAO or any person serving in the equivalent capacity
was employed in the audit practice of the accounting firm during the one-____ period prior to the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 206 – Prohibits the audit firm from providing audit services for issuer
if the CEO, controller, CFO, CAO or any person serving in the equivalent capacity
was employed in the audit practice of the accounting firm during the one-year period prior to the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 206 – Prohibits the audit firm from providing audit services for issuer
if the CEO, controller, CFO, CAO or any person serving in the equivalent capacity
was employed in the audit practice of the accounting firm during the ___-year period prior to the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 206 – Prohibits the audit firm from providing audit services for issuer
if the CEO, controller, CFO, CAO or any person serving in the equivalent capacity
was employed in the audit practice of the accounting firm during the one-year period prior to the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 206 – Prohibits the audit firm from providing audit services for issuer
if the CEO, controller, CFO, CAO or any person serving in the equivalent capacity
was employed in the audit practice of the accounting firm during the one-year period p____ to the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 206 – Prohibits the audit firm from providing audit services for issuer
if the CEO, controller, CFO, CAO or any person serving in the equivalent capacity
was employed in the audit practice of the accounting firm during the one-year period prior to the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – Prohibits any registered public accounting firm from providing the following non-audit services to Audit clients:
Bookkeeping,
Financial info system design or implementation,
Appraisal or valuation services,
Actuarial services,
Internal audit outsourcing,
Management functions or HR,
Broker or dealer investment advisor or investment banking services,
Legal services
202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
- 203 – Establishes mandatory and substantive rotation of audit partner and partner responsible for review every 5 years.
- 204 – Requires audit firm to report to the audit committee: Critical accounting policies, Alternative accounting treatments, Material written communications
- 205 – Defines the term audit committee
- 206 – Prohibits the audit firm from providing audit services for issuer if the CEO, controller, CFO, CAO was employed in the audit practice of the accounting firm during the one-year period prior to the audit.
Sarbanes-Oxley Act (SOX)
Title II – Auditor Independence
• 201 – Prohibits any registered public accounting firm from providing the following non-audit services to Audit clients:
Bookkeeping,
Financial info system design or implementation,
Appraisal or valuation services,
Actuarial services,
Internal audit outsourcing,
Management functions or HR,
Broker or dealer investment advisor or investment banking services,
Legal services
202 – Requires the issuer’s audit committee to preapprove all auditing and non-auditing services to be provided to an issuer.
- 203 – Establishes mandatory and substantive rotation of audit partner and partner responsible for review every 5 years.
- 204 – Requires audit firm to report to the audit committee: Critical accounting policies, Alternative accounting treatments, Material written communications
- 205 – Defines the term audit committee
- 206 – Prohibits the audit firm from providing audit services for issuer if the CEO, controller, CFO, CAO was employed in the audit practice of the accounting firm during the one-year period prior to the audit.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
- 301 – Makes audit committee responsible for appointment, compensation and oversight of any audit work performed.
- 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report
- 303 – Prohibits a director of an issuer to fraudulently influence, coerce, manipulate, or mislead the auditor.
- 304 – Requires executives of an issuer to forfeit any incentive based pay from the sale of stock, received in the 12 months period after the date of issuance of F/S (Claw-back Policy).
- 305 – The SEC may bar any person who has violated federal securities laws from serving as an officer or director of an issuer.
- 306 – Prohibits trading by officers and directors during blackout periods established between the end of a quarter and the earnings report date.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
- 301 – Makes audit committee responsible for appointment, compensation and oversight of any audit work performed.
- 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report
- 303 – Prohibits a director of an issuer to fraudulently influence, coerce, manipulate, or mislead the auditor.
- 304 – Requires executives of an issuer to forfeit any incentive based pay from the sale of stock, received in the 12 months period after the date of issuance of F/S (Claw-back Policy).
- 305 – The SEC may bar any person who has violated federal securities laws from serving as an officer or director of an issuer.
- 306 – Prohibits trading by officers and directors during blackout periods established between the end of a quarter and the earnings report date.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 301 – Makes audit committee, which must be in_________,
responsible for appointment, compensation and oversight of any audit work performed by the audit firm.
Allows the SEC to de-list any issuer not in compliance with title III.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 301 – Makes audit committee, which must be independent,
responsible for appointment, compensation and oversight of any audit work performed by the audit firm.
Allows the SEC to de-list any issuer not in compliance with title III.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 301 – Makes audit committee, which m___ be independent,
responsible for appointment, compensation and oversight of any audit work performed by the audit firm.
Allows the SEC to de-list any issuer not in compliance with title III.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 301 – Makes audit committee, which must be independent,
responsible for appointment, compensation and oversight of any audit work performed by the audit firm.
Allows the SEC to de-list any issuer not in compliance with title III.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 301 – Makes a____ committee, which must be independent,
responsible for appointment, compensation and oversight of any audit work performed by the audit firm.
Allows the SEC to de-list any issuer not in compliance with title III.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 301 – Makes audit committee, which must be independent,
responsible for appointment, compensation and oversight of any audit work performed by the audit firm.
Allows the SEC to de-list any issuer not in compliance with title III.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 301 – Makes audit committee, which must be independent,
re________ for appointment, compensation and oversight of any audit work performed by the audit firm.
Allows the SEC to de-list any issuer not in compliance with title III.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 301 – Makes audit committee, which must be independent,
responsible for appointment, compensation and oversight of any audit work performed by the audit firm.
Allows the SEC to de-list any issuer not in compliance with title III.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 301 – Makes audit committee, which must be independent,
responsible for ap________t, compensation and oversight of any audit work performed by the audit firm.
Allows the SEC to de-list any issuer not in compliance with title III.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 301 – Makes audit committee, which must be independent,
responsible for appointment, compensation and oversight of any audit work performed by the audit firm.
Allows the SEC to de-list any issuer not in compliance with title III.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 301 – Makes audit committee, which must be independent,
responsible for appointment, com________n and oversight of any audit work performed by the audit firm.
Allows the SEC to de-list any issuer not in compliance with title III.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 301 – Makes audit committee, which must be independent,
responsible for appointment, compensation and oversight of any audit work performed by the audit firm.
Allows the SEC to de-list any issuer not in compliance with title III.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 301 – Makes audit committee, which must be independent,
responsible for appointment, compensation and ov______t of any audit work performed by the audit firm.
Allows the SEC to de-list any issuer not in compliance with title III.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 301 – Makes audit committee, which must be independent,
responsible for appointment, compensation and oversight of any audit work performed by the audit firm.
Allows the SEC to de-list any issuer not in compliance with title III.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 301 – Makes audit committee, which must be independent,
responsible for appointment, compensation and oversight of any audit work per____ed by the audit firm.
Allows the SEC to de-list any issuer not in compliance with title III.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 301 – Makes audit committee, which must be independent,
responsible for appointment, compensation and oversight of any audit work performed by the audit firm.
Allows the SEC to de-list any issuer not in compliance with title III.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 301 – Makes audit committee, which must be independent,
responsible for appointment, compensation and oversight of any audit work performed by the audit firm.
Allows the ___ to de-list any issuer not in compliance with title III.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 301 – Makes audit committee, which must be independent,
responsible for appointment, compensation and oversight of any audit work performed by the audit firm.
Allows the SEC to de-list any issuer not in compliance with title III.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 301 – Makes audit committee, which must be independent,
responsible for appointment, compensation and oversight of any audit work performed by the audit firm.
Allows the SEC to de-list any issuer not in com_______ with title III.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 301 – Makes audit committee, which must be independent,
responsible for appointment, compensation and oversight of any audit work performed by the audit firm.
Allows the SEC to de-list any issuer not in compliance with title III.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 301 – Makes audit committee, which must be independent,
responsible for appointment, compensation and oversight of any audit work performed by the audit firm.
Allows the SEC to de-list any is____ not in compliance with title III.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 301 – Makes audit committee, which must be independent,
responsible for appointment, compensation and oversight of any audit work performed by the audit firm.
Allows the SEC to de-list any issuer not in compliance with title III.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal ex_______ and principal financial officers to certify, in each annual or quarterly report:
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial of_____s to certify, in each annual or quarterly report:
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires pr______l executive and principal financial officers to certify, in each annual or quarterly report:
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Re_____es principal executive and principal financial officers to certify, in each annual or quarterly report:
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal f________ officers to certify, in each annual or quarterly report:
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to ce____y, in each annual or quarterly report:
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each an_____ or quarterly report:
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or q______y report:
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
o That they reviewed the report o The report does not contain any untrue statement of material fact or omission of a material fact o Financial position and results of operations are fairly presented
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
o That they re\_\_\_\_ed the report
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
o That they reviewed the report
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
o That they reviewed the report o The report does not contain any un\_\_\_\_ statement of material fact or omission of a material fact
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
o That they reviewed the report o The report does not contain any untrue statement of material fact or omission of a material fact
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
o That they reviewed the report o The report does not contain any untrue statement of m\_\_\_\_\_\_\_ fact or omission of a material fact
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
o That they reviewed the report o The report does not contain any untrue statement of material fact or omission of a material fact
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
o That they reviewed the report o The report does not contain any untrue statement of material fact or o\_\_\_\_\_\_n of a material fact
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
o That they reviewed the report o The report does not contain any untrue statement of material fact or omission of a material fact
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
o That they reviewed the report o The report does not contain any untrue statement of material fact or omission of a m\_\_\_\_\_\_\_ fact
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
o That they reviewed the report o The report does not contain any untrue statement of material fact or omission of a material fact
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
o That they reviewed the report o The report does not contain any untrue statement of material f\_\_\_ or omission of a material fact o Financial position and results of operations are fairly presented
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
o That they reviewed the report o The report does not contain any untrue statement of material fact or omission of a material fact o Financial position and results of operations are fairly presented
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
o That they reviewed the report o The report does not contain any untrue statement of material fact or omission of a material fact o Financial po\_\_\_\_\_\_ and results of operations are fairly presented
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
o That they reviewed the report o The report does not contain any untrue statement of material fact or omission of a material fact o Financial position and results of operations are fairly presented
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
o That they reviewed the report o The report does not contain any untrue statement of material fact or omission of a material fact o Financial position and results of operations are f\_\_\_\_y presented
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
o That they reviewed the report o The report does not contain any untrue statement of material fact or omission of a material fact o Financial position and results of operations are fairly presented
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
o That they reviewed the report o The report does not contain any untrue statement of material fact or omission of a material fact o Financial position and re\_\_\_\_s of operations are fairly presented
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
o That they reviewed the report o The report does not contain any untrue statement of material fact or omission of a material fact o Financial position and results of operations are fairly presented
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
o That they reviewed the report o The report does not contain any untrue statement of material fact or omission of a material fact o Financial position and results of op\_\_\_\_\_\_\_s are fairly presented
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
o That they reviewed the report o The report does not contain any untrue statement of material fact or omission of a material fact o Financial position and results of operations are fairly presented
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
o That they reviewed the report o The report does not contain any untrue statement of material fact or omission of a material fact o Financial position and results of operations are fairly pre\_\_\_\_ed
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
o That they reviewed the report o The report does not contain any untrue statement of material fact or omission of a material fact o Financial position and results of operations are fairly presented
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Officers also certify that they:
o Are re________ for establishing and maintaining effective internal control
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Officers also certify that they:
o Are responsible for establishing and maintaining effective internal control
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Officers also certify that they:
o Are responsible for e________ing and maintaining effective internal control
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Officers also certify that they:
o Are responsible for establishing and maintaining effective internal control
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Officers also certify that they:
o Are responsible for establishing and m______ing effective internal control
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Officers also certify that they:
o Are responsible for establishing and maintaining effective internal control
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Officers also certify that they:
o Are responsible for establishing and maintaining effective i________ c________
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Officers also certify that they:
o Are responsible for establishing and maintaining effective internal control
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Officers also certify that they:
o Are responsible for establishing and maintaining ef______ internal control
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Officers also certify that they:
o Are responsible for establishing and maintaining effective internal control
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Officers also certify that they:
o Are responsible for establishing and maintaining effective internal control o Have ev\_\_\_\_\_\_ed the effectiveness of the controls within 90 days prior to the report
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Officers also certify that they:
o Are responsible for establishing and maintaining effective internal control o Have evaluated the effectiveness of the controls within 90 days prior to the report
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Officers also certify that they:
o Are responsible for establishing and maintaining effective internal control o Have evaluated the ef\_\_\_\_\_\_\_\_ss of the controls within 90 days prior to the report
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Officers also certify that they:
o Are responsible for establishing and maintaining effective internal control o Have evaluated the effectiveness of the controls within 90 days prior to the report
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Officers also certify that they:
o Are responsible for establishing and maintaining effective internal control o Have evaluated the effectiveness of the controls within 90 \_\_\_s prior to the report
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Officers also certify that they:
o Are responsible for establishing and maintaining effective internal control o Have evaluated the effectiveness of the controls within 90 days prior to the report
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Officers also certify that they:
o Are responsible for establishing and maintaining effective internal control o Have evaluated the effectiveness of the controls within \_\_ days prior to the report
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Officers also certify that they:
o Are responsible for establishing and maintaining effective internal control o Have evaluated the effectiveness of the controls within 90 days prior to the report
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Officers also certify that they:
o Are responsible for establishing and maintaining effective internal control o Have evaluated the effectiveness of the controls within 90 days p\_\_\_\_ to the report
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Officers also certify that they:
o Are responsible for establishing and maintaining effective internal control o Have evaluated the effectiveness of the controls within 90 days prior to the report
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Officers also certify that they:
o Are responsible for establishing and maintaining effective internal control o Have evaluated the effectiveness of the controls within 90 days prior to the r\_\_\_\_\_
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Officers also certify that they:
o Are responsible for establishing and maintaining effective internal control o Have evaluated the effectiveness of the controls within 90 days prior to the report
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Officers also certify that they:
o Are responsible for establishing and maintaining effective internal control o Have evaluated the effectiveness of the c\_\_\_\_\_\_s within 90 days prior to the report
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Officers also certify that they:
o Are responsible for establishing and maintaining effective internal control o Have evaluated the effectiveness of the controls within 90 days prior to the report
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Officers also certify that they:
o Are responsible for establishing and maintaining effective internal control o Have evaluated the effectiveness of the controls w\_\_\_\_n 90 days prior to the report
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Officers also certify that they:
o Are responsible for establishing and maintaining effective internal control o Have evaluated the effectiveness of the controls within 90 days prior to the report
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Officers also certify that they:
o Are responsible for establishing and maintaining effective internal control o Have evaluated the effectiveness of the controls within 90 days prior to the report o Have presented their conclusions as to the ef\_\_\_\_\_\_\_\_ss of internal control
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Officers also certify that they:
o Are responsible for establishing and maintaining effective internal control o Have evaluated the effectiveness of the controls within 90 days prior to the report o Have presented their conclusions as to the effectiveness of internal control
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Officers also certify that they:
o Are responsible for establishing and maintaining effective internal control o Have evaluated the effectiveness of the controls within 90 days prior to the report o Have p\_\_\_\_\_\_\_\_ed their conclusions as to the effectiveness of internal control
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Officers also certify that they:
o Are responsible for establishing and maintaining effective internal control o Have evaluated the effectiveness of the controls within 90 days prior to the report o Have presented their conclusions as to the effectiveness of internal control
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Officers also certify that they:
o Are responsible for establishing and maintaining effective internal control o Have evaluated the effectiveness of the controls within 90 days prior to the report o Have presented their co\_\_\_\_\_\_\_\_\_s as to the effectiveness of internal control
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Officers also certify that they:
o Are responsible for establishing and maintaining effective internal control o Have evaluated the effectiveness of the controls within 90 days prior to the report o Have presented their conclusions as to the effectiveness of internal control
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Officers also certify that they:
o Are responsible for establishing and maintaining effective internal control o Have evaluated the effectiveness of the controls within 90 days prior to the report o Have presented their conclusions as to the effectiveness of internal c\_\_\_\_\_\_
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Officers also certify that they:
o Are responsible for establishing and maintaining effective internal control o Have evaluated the effectiveness of the controls within 90 days prior to the report o Have presented their conclusions as to the effectiveness of internal control
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Signing officers required to disclose to auditors and audit committee:
o Significant de_______ies in the design or operation of internal controls
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Signing officers required to disclose to auditors and audit committee:
o Significant deficiencies in the design or operation of internal controls
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Signing officers required to disclose to auditors and audit committee:
o S________t deficiencies in the design or operation of internal controls
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Signing officers required to disclose to auditors and audit committee:
o Significant deficiencies in the design or operation of internal controls
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Signing officers required to disclose to auditors and audit committee:
o Significant deficiencies in the d_____ or operation of internal controls
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Signing officers required to disclose to auditors and audit committee:
o Significant deficiencies in the design or operation of internal controls
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Signing officers required to disclose to auditors and audit committee:
o Significant deficiencies in the design or o_______n of internal controls
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Signing officers required to disclose to auditors and audit committee:
o Significant deficiencies in the design or operation of internal controls
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Signing officers required to disclose to auditors and audit committee:
o Significant deficiencies in the design or operation of internal controls o Any f\_\_\_\_\_, regardless of whether or not material, that involves management or employees involved in internal controls
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Signing officers required to disclose to auditors and audit committee:
o Significant deficiencies in the design or operation of internal controls o Any fraud, regardless of whether or not material, that involves management or employees involved in internal controls
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Signing officers required to disclose to auditors and audit committee:
o Significant deficiencies in the design or operation of internal controls o Any fraud, regardless of whether or not m\_\_\_\_\_\_\_\_, that involves management or employees involved in internal controls
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Signing officers required to disclose to auditors and audit committee:
o Significant deficiencies in the design or operation of internal controls o Any fraud, regardless of whether or not material, that involves management or employees involved in internal controls
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Signing officers required to disclose to auditors and audit committee:
o Significant deficiencies in the design or operation of internal controls o Any fraud, regardless of whether or not material, that involves m\_\_\_\_\_\_\_\_\_ or employees involved in internal controls
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Signing officers required to disclose to auditors and audit committee:
o Significant deficiencies in the design or operation of internal controls o Any fraud, regardless of whether or not material, that involves management or employees involved in internal controls
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Signing officers required to disclose to auditors and audit committee:
o Significant deficiencies in the design or operation of internal controls o Any fraud, regardless of whether or not material, that involves management or employees involved in internal c\_\_\_\_\_\_\_s
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Signing officers required to disclose to auditors and audit committee:
o Significant deficiencies in the design or operation of internal controls o Any fraud, regardless of whether or not material, that involves management or employees involved in internal controls
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Signing of______s required to disclose to auditors and audit committee:
o Significant deficiencies in the design or operation of internal controls o Any fraud, regardless of whether or not material, that involves management or employees involved in internal controls
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Signing officers required to disclose to auditors and audit committee:
o Significant deficiencies in the design or operation of internal controls o Any fraud, regardless of whether or not material, that involves management or employees involved in internal controls
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Signing officers required to disclose to auditors and a____ committee:
o Significant deficiencies in the design or operation of internal controls o Any fraud, regardless of whether or not material, that involves management or employees involved in internal controls
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Signing officers required to disclose to auditors and audit committee:
o Significant deficiencies in the design or operation of internal controls o Any fraud, regardless of whether or not material, that involves management or employees involved in internal controls
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Signing officers required to dis_____ to auditors and audit committee:
o Significant deficiencies in the design or operation of internal controls o Any fraud, regardless of whether or not material, that involves management or employees involved in internal controls
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Signing officers required to disclose to auditors and audit committee:
o Significant deficiencies in the design or operation of internal controls o Any fraud, regardless of whether or not material, that involves management or employees involved in internal controls
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Report of signing officers also indicates changes in i______ controls over financial reporting.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Report of signing officers also indicates changes in internal controls over financial reporting.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Report of s___ing officers also indicates changes in internal controls over financial reporting.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report:
Report of signing officers also indicates changes in internal controls over financial reporting.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
303 – Prohibits an o_____ or director of an issuer
to fraudulently influence, coerce, manipulate, or mislead the auditor.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
303 – Prohibits an officer or director of an issuer
to fraudulently influence, coerce, manipulate, or mislead the auditor.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
303 – Prohibits an officer or director of an issuer
to f_________y influence, coerce, manipulate, or mislead the auditor.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
303 – Prohibits an officer or director of an issuer
to fraudulently influence, coerce, manipulate, or mislead the auditor.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
303 – Prohibits an officer or director of an issuer
to fraudulently in________e, coerce, manipulate, or mislead the auditor.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
303 – Prohibits an officer or director of an issuer
to fraudulently influence, coerce, manipulate, or mislead the auditor.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
303 – Prohibits an officer or director of an issuer
to fraudulently influence, co___e, manipulate, or mislead the auditor.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
303 – Prohibits an officer or director of an issuer
to fraudulently influence, coerce, manipulate, or mislead the auditor.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
303 – Prohibits an officer or director of an issuer
to fraudulently influence, coerce, m________e, or mislead the auditor.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
303 – Prohibits an officer or director of an issuer
to fraudulently influence, coerce, manipulate, or mislead the auditor.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
303 – Prohibits an officer or director of an issuer
to fraudulently influence, coerce, manipulate, or mis____ the auditor.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
303 – Prohibits an officer or director of an issuer
to fraudulently influence, coerce, manipulate, or mislead the auditor.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
303 – Prohibits an officer or director of an issuer
to fraudulently influence, coerce, manipulate, or mislead the a______.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
303 – Prohibits an officer or director of an issuer
to fraudulently influence, coerce, manipulate, or mislead the auditor.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 304 – Requires executives of an is_____
to forfeit any bonus or incentive based pay or profits
from the sale of stock,
received in the 12 months period
after the date of issuance of financial statements
subject to an earnings restatement
(Claw-back Policy).
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 304 – Requires executives of an issuer
to forfeit any bonus or incentive based pay or profits
from the sale of stock,
received in the 12 months period
after the date of issuance of financial statements
subject to an earnings restatement
(Claw-back Policy).
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 304 – Requires executives of an issuer
to forfeit any bo___ or incentive based pay or profits
from the sale of stock,
received in the 12 months period
after the date of issuance of financial statements
subject to an earnings restatement
(Claw-back Policy).
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 304 – Requires executives of an issuer
to forfeit any bonus or incentive based pay or profits
from the sale of stock,
received in the 12 months period
after the date of issuance of financial statements
subject to an earnings restatement
(Claw-back Policy).
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 304 – Requires ex______s of an issuer
to forfeit any bonus or incentive based pay or profits
from the sale of stock,
received in the 12 months period
after the date of issuance of financial statements
subject to an earnings restatement
(Claw-back Policy).
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 304 – Requires executives of an issuer
to forfeit any bonus or incentive based pay or profits
from the sale of stock,
received in the 12 months period
after the date of issuance of financial statements
subject to an earnings restatement
(Claw-back Policy).
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 304 – Requires executives of an issuer
to forfeit any bonus or in______e based pay or profits
from the sale of stock,
received in the 12 months period
after the date of issuance of financial statements
subject to an earnings restatement
(Claw-back Policy).
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 304 – Requires executives of an issuer
to forfeit any bonus or incentive based pay or profits
from the sale of stock,
received in the 12 months period
after the date of issuance of financial statements
subject to an earnings restatement
(Claw-back Policy).
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 304 – Requires executives of an issuer
to forfeit any bonus or incentive based p__ or profits
from the sale of stock,
received in the 12 months period
after the date of issuance of financial statements
subject to an earnings restatement
(Claw-back Policy).
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 304 – Requires executives of an issuer
to forfeit any bonus or incentive based pay or profits
from the sale of stock,
received in the 12 months period
after the date of issuance of financial statements
subject to an earnings restatement
(Claw-back Policy).
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 304 – Requires executives of an issuer
to forfeit any bonus or incentive based pay or pr____s
from the sale of stock,
received in the 12 months period
after the date of issuance of financial statements
subject to an earnings restatement
(Claw-back Policy).
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 304 – Requires executives of an issuer
to forfeit any bonus or incentive based pay or profits
from the sale of stock,
received in the 12 months period
after the date of issuance of financial statements
subject to an earnings restatement
(Claw-back Policy).
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 304 – Requires executives of an issuer
to forfeit any bonus or incentive based pay or profits
from the s___ of stock,
received in the 12 months period
after the date of issuance of financial statements
subject to an earnings restatement
(Claw-back Policy).
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 304 – Requires executives of an issuer
to forfeit any bonus or incentive based pay or profits
from the sale of stock,
received in the 12 months period
after the date of issuance of financial statements
subject to an earnings restatement
(Claw-back Policy).
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 304 – Requires executives of an issuer
to forfeit any bonus or incentive based pay or profits
from the sale of s____,
received in the 12 months period
after the date of issuance of financial statements
subject to an earnings restatement
(Claw-back Policy).
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 304 – Requires executives of an issuer
to forfeit any bonus or incentive based pay or profits
from the sale of stock,
received in the 12 months period
after the date of issuance of financial statements
subject to an earnings restatement
(Claw-back Policy).
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 304 – Requires executives of an issuer
to forfeit any bonus or incentive based pay or profits
from the sale of stock,
received in the 12 ______s period
after the date of issuance of financial statements
subject to an earnings restatement
(Claw-back Policy).
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 304 – Requires executives of an issuer
to forfeit any bonus or incentive based pay or profits
from the sale of stock,
received in the 12 months period
after the date of issuance of financial statements
subject to an earnings restatement
(Claw-back Policy).
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 304 – Requires executives of an issuer
to forfeit any bonus or incentive based pay or profits
from the sale of stock,
r_____ed in the 12 months period
after the date of issuance of financial statements
subject to an earnings restatement
(Claw-back Policy).
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 304 – Requires executives of an issuer
to forfeit any bonus or incentive based pay or profits
from the sale of stock,
received in the 12 months period
after the date of issuance of financial statements
subject to an earnings restatement
(Claw-back Policy).
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 304 – Requires executives of an issuer
to forfeit any bonus or incentive based pay or profits
from the sale of stock,
received in the __ months period
after the date of issuance of financial statements
subject to an earnings restatement
(Claw-back Policy).
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 304 – Requires executives of an issuer
to forfeit any bonus or incentive based pay or profits
from the sale of stock,
received in the 12 months period
after the date of issuance of financial statements
subject to an earnings restatement
(Claw-back Policy).
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 304 – Requires executives of an issuer
to forfeit any bonus or incentive based pay or profits
from the sale of stock,
received in the 12 months period
after the date of is______ of financial statements
subject to an earnings restatement
(Claw-back Policy).
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 304 – Requires executives of an issuer
to forfeit any bonus or incentive based pay or profits
from the sale of stock,
received in the 12 months period
after the date of issuance of financial statements
subject to an earnings restatement
(Claw-back Policy).
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 304 – Requires executives of an issuer
to forfeit any bonus or incentive based pay or profits
from the sale of stock,
received in the 12 months period
after the date of issuance of financial s_________s
subject to an earnings restatement
(Claw-back Policy).
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 304 – Requires executives of an issuer
to forfeit any bonus or incentive based pay or profits
from the sale of stock,
received in the 12 months period
after the date of issuance of financial statements
subject to an earnings restatement
(Claw-back Policy).
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 304 – Requires executives of an issuer
to forfeit any bonus or incentive based pay or profits
from the sale of stock,
received in the 12 months period
after the d___ of issuance of financial statements
subject to an earnings restatement
(Claw-back Policy).
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 304 – Requires executives of an issuer
to forfeit any bonus or incentive based pay or profits
from the sale of stock,
received in the 12 months period
after the date of issuance of financial statements
subject to an earnings restatement
(Claw-back Policy).
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 304 – Requires executives of an issuer
to forfeit any bonus or incentive based pay or profits
from the sale of stock,
received in the 12 months period
a____ the date of issuance of financial statements
subject to an earnings restatement
(Claw-back Policy).
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 304 – Requires executives of an issuer
to forfeit any bonus or incentive based pay or profits
from the sale of stock,
received in the 12 months period
after the date of issuance of financial statements
subject to an earnings restatement
(Claw-back Policy).
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 304 – Requires executives of an issuer
to forfeit any bonus or incentive based pay or profits
from the sale of stock,
received in the 12 months period
after the date of issuance of financial statements
subject to an earnings restatement
(Claw-back P____y).
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 304 – Requires executives of an issuer
to forfeit any bonus or incentive based pay or profits
from the sale of stock,
received in the 12 months period
after the date of issuance of financial statements
subject to an earnings restatement
(Claw-back Policy).
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 304 – Requires executives of an issuer
to forfeit any bonus or incentive based pay or profits
from the sale of stock,
received in the 12 months period
after the date of issuance of financial statements
subject to an ea_____s restatement
(Claw-back Policy).
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 304 – Requires executives of an issuer
to forfeit any bonus or incentive based pay or profits
from the sale of stock,
received in the 12 months period
after the date of issuance of financial statements
subject to an earnings restatement
(Claw-back Policy).
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
What is Claw-back Policy?
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 304 – Requires executives of an issuer to forfeit any bonus or incentive based pay or profits from the sale of stock,
received in the 12 months period
after the date of issuance of financial statements
subject to an earnings restatement
(Claw-back Policy).
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 305 – The SEC may bar any p______ who has violated federal securities laws from serving as an officer or director of an issuer.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 305 – The SEC may bar any person who has violated federal securities laws from serving as an officer or director of an issuer.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 305 – The SEC may bar any person who has v_____ed federal securities laws from serving as an officer or director of an issuer.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 305 – The SEC may bar any person who has violated federal securities laws from serving as an officer or director of an issuer.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 305 – The SEC may bar any person who has violated fe______ securities laws from serving as an officer or director of an issuer.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 305 – The SEC may bar any person who has violated federal securities laws from serving as an officer or director of an issuer.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 305 – The SEC may bar any person who has violated federal se______ies laws from serving as an officer or director of an issuer.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 305 – The SEC may bar any person who has violated federal securities laws from serving as an officer or director of an issuer.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 305 – The SEC may bar any person who has violated federal securities l__s from serving as an officer or director of an issuer.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 305 – The SEC may bar any person who has violated federal securities laws from serving as an officer or director of an issuer.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 305 – The SEC may bar any person who has violated federal securities laws from serving as an of_____ or director of an issuer.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 305 – The SEC may bar any person who has violated federal securities laws from serving as an officer or director of an issuer.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 305 – The SEC may bar any person who has violated federal securities laws from serving as an officer or di_____ of an issuer.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 305 – The SEC may bar any person who has violated federal securities laws from serving as an officer or director of an issuer.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 305 – The SEC may bar any person who has violated federal securities laws from serving as an officer or director of an i_____.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 305 – The SEC may bar any person who has violated federal securities laws from serving as an officer or director of an issuer.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 305 – The ___ may bar any person who has violated federal securities laws from serving as an officer or director of an issuer.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 305 – The SEC may bar any person who has violated federal securities laws from serving as an officer or director of an issuer.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 306 – Prohibits trading by o_____s and directors during blackout periods
established between the end of a quarter
and the earnings report date.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 306 – Prohibits trading by officers and directors during blackout periods
established between the end of a quarter
and the earnings report date.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 306 – Prohibits trading by officers and d______s during blackout periods
established between the end of a quarter
and the earnings report date.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 306 – Prohibits trading by officers and directors during blackout periods
established between the end of a quarter
and the earnings report date.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 306 – Prohibits trading by officers and directors during blackout pe____s
established between the end of a quarter
and the earnings report date.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 306 – Prohibits trading by officers and directors during blackout periods
established between the end of a quarter
and the earnings report date.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 306 – Prohibits trading by officers and directors during blackout periods
es______ed between the end of a quarter
and the earnings report date.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 306 – Prohibits trading by officers and directors during blackout periods
established between the end of a quarter
and the earnings report date.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 306 – Prohibits trading by officers and directors during blackout periods
established b_______ the end of a quarter
a__ the earnings report date.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 306 – Prohibits trading by officers and directors during blackout periods
established between the end of a quarter
and the earnings report date.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 306 – Prohibits trading by officers and directors during blackout periods
established between the end of a q______
and the earnings report date.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 306 – Prohibits trading by officers and directors during blackout periods
established between the end of a quarter
and the earnings report date.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 306 – Prohibits trading by officers and directors during blackout periods
established between the end of a quarter
and the e___ings report date.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 306 – Prohibits trading by officers and directors during blackout periods
established between the end of a quarter
and the earnings report date.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 306 – Prohibits trading by officers and directors during blackout periods
established between the end of a quarter
and the earnings re____ date.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 306 – Prohibits trading by officers and directors during blackout periods
established between the end of a quarter
and the earnings report date.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 306 – Prohibits trading by officers and directors during blackout periods
established between the end of a quarter
and the earnings report d___.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 306 – Prohibits trading by officers and directors during blackout periods
established between the end of a quarter
and the earnings report date.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 306 – Prohibits t___ing by officers and directors during blackout periods
established between the end of a quarter
and the earnings report date.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 306 – Prohibits trading by officers and directors during blackout periods
established between the end of a quarter
and the earnings report date.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 306 – P_______s trading by officers and directors during blackout periods
established between the end of a quarter
and the earnings report date.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 306 – Prohibits trading by officers and directors during blackout periods
established between the end of a quarter
and the earnings report date.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 306 – Prohibits trading by officers and directors during b_______ periods
established between the end of a quarter
and the earnings report date.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
• 306 – Prohibits trading by officers and directors during blackout periods
established between the end of a quarter
and the earnings report date.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
- 301 – Makes audit committee responsible for appointment, compensation and oversight of any audit work performed.
- 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report
- 303 – Prohibits a director of an issuer to fraudulently influence, coerce, manipulate, or mislead the auditor.
- 304 – Requires executives of an issuer to forfeit any incentive based pay from the sale of stock, received in the 12 months period after the date of issuance of F/S (Claw-back Policy).
- 305 – The SEC may bar any person who has violated federal securities laws from serving as an officer or director of an issuer.
- 306 – Prohibits trading by officers and directors during blackout periods established between the end of a quarter and the earnings report date.
Sarbanes-Oxley Act (SOX)
Title III – Corporate Responsibility
- 301 – Makes audit committee responsible for appointment, compensation and oversight of any audit work performed.
- 302 – Requires principal executive and principal financial officers to certify, in each annual or quarterly report
- 303 – Prohibits a director of an issuer to fraudulently influence, coerce, manipulate, or mislead the auditor.
- 304 – Requires executives of an issuer to forfeit any incentive based pay from the sale of stock, received in the 12 months period after the date of issuance of F/S (Claw-back Policy).
- 305 – The SEC may bar any person who has violated federal securities laws from serving as an officer or director of an issuer.
- 306 – Prohibits trading by officers and directors during blackout periods established between the end of a quarter and the earnings report date.