Sarbanes-Oxley And SOX Compliance Cases

Decent Essays

Sarbanes-Oxley is one compliance law that has significant differences in private and publicly held companies. Even though a best practice among both company types is to be SOX complaint it is not necessarily required in the privately held company’s case. There are a few that apply to both though a list of these include: • Enhanced liability for document destruction o This has to with document retention and basically does not allow companies to destroy any documents that could incriminate them legally. If they do they will still be prosecuted under this statute. • Enhanced penalties for security fraud o This has to do with public offerings of securities and includes private companies that offer this service. It requires you to be truthful in

Get Access