Sarbanes Oxley act
Posted by admin on January 3, 2008 in Business :: Legal
A willful submission of wrong financial certification can result in fines of up to 5 million dollars. Possible delisting of the company from Stock Exchanges. Loss of D&O insurance which can cause the company to pay millions of dollars in risk insurance. Sarbanes oxley 404 refers to the section 404 of the sarbanes oxley act according to which it entitles to have stricter internal controls while documenting the financial status of the company. Most of the senior executive in the top corporate world emphasize on compliance with Sarbanes Oxley 404 section.
