A Report on LJB Company

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To: Partner Subject: Report regarding LJB Company The President will certainly need to be informed about the mort important regulation required to regulate his system of internal controls were he to go public in the future. As you are well aware of, this most likely would be considered the Sarbanes-Oxley Act (2002) otherwise called the Sarbanes-Oxley, Sarbanes, or Sarbox or SOX which is a federal law that was implemented on July 30, 2002 and set improved or new standards for all American public accounting, management, and public company corporations. The SOX contains 11 sections, or prerogatives, that include stress on additional corporate responsibilities, and penalties for their transgression and involves the intervention of the HYPERLINK "http://en.wikipedia.org/wiki/United_States_Securities_and_Exchange_Commission" o "United States Securities and Exchange Commission" Securities and Exchange Commission (SEC) as well as the creation and involvemnt of the HYPERLINK "http://en.wikipedia.org/wiki/Public_Company_Accounting_Oversight_Board" o "Public Company Accounting Oversight Board" Public Company Accounting Oversight Board (PCAOB) to monitor implementation of and obedience to the SOX. The Sarbanes-Oxley Act is divided into two sections: Civil and Criminal. Provisions of the Sarbanes-Oxley Act include the following: A set of internal procedures that mandate accurate financial disclosure certified as such by the signing officers (Section 302) Disclosure of all material

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