Sarbanes-Oxley Act (SOX)

Question ,[object Object],Xerox Sunbeam Tyco MicroStrategy Freddie Mac Parmalat WorldCom Enron ?

Answer! They have all experienced major accounting scandals which were due, at least in part, to serious breakdowns in corporate governance .

Enron ,[object Object],[object Object],[object Object],[object Object],[object Object]

Enron ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

SOX ,[object Object],[object Object],[object Object]

The Sarbanes-Oxley Act of 2002 “ The most significant piece of legislation to hit the securities field since 1933-1934.”

Background to the SOX Act ,[object Object],[object Object],[object Object],[object Object]

Who Does the SOX Act Affect? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

ENHANCED FINANCIAL DISCLOSURES ,[object Object],[object Object],[object Object],[object Object]

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ANALYST CONFLICTS OF INTEREST ,[object Object],[object Object]

CORPORATE AND CRIMINAL FRAUD ,[object Object],[object Object],[object Object]

Provisions of the SOX Act ,[object Object],[object Object],[object Object],[object Object]

Financial Statement Certification ,[object Object],[object Object],[object Object],[object Object]

What Does “Fairly Presents” Mean? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Management’s Annual Internal Control Report ,[object Object],[object Object],[object Object],[object Object],[object Object]

An Internal Control System Is… ,[object Object],[object Object],[object Object],[object Object]

What are Internal Controls? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

THE most important component of any control system is the Control Environment … The Tone at the Top of the corporation and its operating units

Source: UTC Annual Report 2001

Source: UTC Annual Report 2002

Corporate Governance ,[object Object],[object Object]

The Corporation ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

The Role of the Board of Directors ,[object Object],[object Object],[object Object],[object Object]

The Responsibilities of the Board of Directors ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Source: http://www.pg.com/about_pg/sectionmain.jhtml

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