What Is The Sarbanes-Oxley Act Of 2002

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Sarbanes-Oxley Act of 2002 was designed to reform the report, the administration and public financial reports of the company shares. Sarbanes-Oxley Act (SOX) requires joint stock companies to pay attention to the public relevance of financial information, maintaining the process management of internal information exchange, backup and data protection this information. In order to protect the interests of customers and investors, avoid the losses on the assets of the enterprise. Accordingly, punished individuals and groups who participated in fraudulent papers.
As a result, HealthSouth Corporation was the first company charged under the provisions of the SOX. However, Scrushy was acquitted of all counts of accounting fraud, but convicted or

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