he public, on urgent basis, information concerning material changes in their financial state or operations. These disclosures should be easy to understand.

Section 802, pertaining to 'criminal penalties for altering documents', imposes severe penalties and / or up to 20 years imprisonment for changing, destructing, falsifying documents with an objective to block or influence a legal inquiry. Section 906, called "906 certification," requires that all periodic report

Sarbanes Oxley, also known as SOX or SarbOx, an act that came into force in July 2002, is considered as one of the most important event in history of United States securities laws. Approved by the U.S. house of representatives and the senate, the SOX has brought major changes in the administration and financial practices of the country. Passed to appraise all legislative audit requirements, the SarbOx gives extra powers and duties to the U. S. Securities and Exchange Commission.

Sarbanes Oxley is named after senator Paul Sarbanes and representative Michael Oxley, who were the key architects of this law. It covers issues like auditor independence, corporate responsibility and sets up new or improved principles for all U.S. public company boards and accounting firms. SOX is arranged into eleven "titles", including issues that range from corporate board responsibilities to criminal penalties.

Section 302 is listed under title III of SOX, defining the corporate responsibility for financial reports. This section makes it essential for a set of internal actions to be planned to guarantee exact financial disclosure. The CEO or CFO is obliged to certify that he is in charge for establishing and maintaining internal controls.

The 401 section under title IV of SOX (enhanced financial disclosures) states that the financial statements published by managements are required to be accurate. All material off-balance sheet liabilities, obligations of the transactions are to be included in these statements.

Section 404 (under Title IV) is called management assessment of internal controls. Issuers are required to produce an annual report regarding the scope and sufficiency of the internal control structure and procedures for financial reporting.

Under the section 409 deals with real time issuer disclosures, business managements are required to disclose to the public, on urgent basis, information concerning material changes in their financial state or operations. These disclosures should be easy to understand.

Section 802, pertaining to 'criminal penalties for altering documents', imposes severe penalties and / or up to 20 years imprisonment for changing, destructing, falsifying documents with an objective to block or influence a legal inquiry. Section 906, called "906 certification," requires that all periodic reports

mission.

Sarbanes Oxley is named after senator Paul Sarbanes and representative Michael Oxley, who were the key architects of this law. It covers issues like auditor independence, corporate responsibility and sets up new or improved principles for all U.S. public company boards and accounting firms. SOX is arranged into eleven "titles", including issues that range from corporate board responsibilities to criminal penalties.

Section 302 is listed under title III of SOX, defining the corporate responsibility for financial reports. This section makes it essential for a set of internal actions to be planned to guarantee exact financial disclosure. The CEO or CFO is obliged to certify that he is in charge for establishing and maintaining internal controls.

The 401 section under title IV of SOX (enhanced financial disclosures) states that the financial statements published by managements are required to be accurate. All material off-balance sheet liabilities, obligations of the transactions are to be included in these statements.

Section 404 (under Title IV) is called management assessment of internal controls. Issuers are required to produce an annual report regarding the scope and sufficiency of the internal control structure and procedures for financial reporting.

Under the section 409 deals with real time issuer disclosures, business managements are required to disclose to the public, on urgent basis, information concerning material changes in their financial state or operations. These disclosures should be easy to understand.

Section 802, pertaining to 'criminal penalties for altering documents', imposes severe penalties and / or up to 20 years imprisonment for changing, destructing, falsifying documents with an objective to block or influence a legal inquiry. Section 906, called "906 certification," requires that all periodic report

II of SOX, defining the corporate responsibility for financial reports. This section makes it essential for a set of internal actions to be planned to guarantee exact financial disclosure. The CEO or CFO is obliged to certify that he is in charge for establishing and maintaining internal controls.

The 401 section under title IV of SOX (enhanced financial disclosures) states that the financial statements published by managements are required to be accurate. All material off-balance sheet liabilities, obligations of the transactions are to be included in these statements.

Section 404 (under Title IV) is called management assessment of internal controls. Issuers are required to produce an annual report regarding the scope and sufficiency of the internal control structure and procedures for financial reporting.

Under the section 409 deals with real time issuer disclosures, business managements are required to disclose to the public, on urgent basis, information concerning material changes in their financial state or operations. These disclosures should be easy to understand.

Section 802, pertaining to 'criminal penalties for altering documents', imposes severe penalties and / or up to 20 years imprisonment for changing, destructing, falsifying documents with an objective to block or influence a legal inquiry. Section 906, called "906 certification," requires that all periodic report

rial off-balance sheet liabilities, obligations of the transactions are to be included in these statements.

Section 404 (under Title IV) is called management assessment of internal controls. Issuers are required to produce an annual report regarding the scope and sufficiency of the internal control structure and procedures for financial reporting.

Under the section 409 deals with real time issuer disclosures, business managements are required to disclose to the public, on urgent basis, information concerning material changes in their financial state or operations. These disclosures should be easy to understand.

Section 802, pertaining to 'criminal penalties for altering documents', imposes severe penalties and / or up to 20 years imprisonment for changing, destructing, falsifying documents with an objective to block or influence a legal inquiry. Section 906, called "906 certification," requires that all periodic report

he public, on urgent basis, information concerning material changes in their financial state or operations. These disclosures should be easy to understand.

Section 802, pertaining to 'criminal penalties for altering documents', imposes severe penalties and / or up to 20 years imprisonment for changing, destructing, falsifying documents with an objective to block or influence a legal inquiry. Section 906, called "906 certification," requires that all periodic reports that contain financial statements filed with the SEC (the Security and Exchange Commission) should be accompanied by a written declaration of the CEO and the CFO of the company.