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Topic: Technology
Number of pages / Number of words: 7 / 1744
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In the wake of numerous egregious accounting scandals at major corporations that dominated news headlines for months, Congress passed the Sarbanes-Oxley Act in 2002. Section 404 of the Sarbanes-Oxley Act requires upper-level executives (CEOs, CFOs) of companies with market capitalization above $75 million to take greater responsibility for the income statements and balance sheets of their businesses...


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Section 404 of the Sarbanes-Oxley Act requires upper-level executives (CEOs, CFOs) of companies with market capitalization above $75 million to take greater responsibility for the income statements and balance sheets of their businesses. Specifically, after June 15, 2004, companies must prepare a management report that verifies the accuracy of their quarterly and annual financial statements at the close of the current fiscal year...


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