Sarbanes Oxley Act , And The Portion Of Domestic Antitrust

Sarbanes Oxley Act Lastly, for the portion of domestic antitrust, we will examine the Sarbanes Oxley Act. Enacted in 2002 it increases transparency in accounting. It was designed to prevent accounting errors and fraud in financial disclosures. The SOX act stipulates that the periodic financial reports be carried out in a certain way. The signing officers must review and certify the report prior to release. They are required to make sure all information is clear, true, not misleading and does not omit any important details. The signing officers are also required to evaluate the internal controls and their effectiveness within ninety days of the report. If there are any areas of internal control that are not working or may have issues they must also report this, along with any responsible employees. Finally, they must make sure the financial picture is being fairly portrayed through all of this. Intro to foreign Antitrust It is of upmost importance that as you enter into each foreign market every representative of the company has been well informed of the foreign antitrust legislation as well. This will limit the potential exposures the company undertakes, so we will also be examining laws that govern the Canadian, British and Chinese markets you will be entering. Making sure that all these guidelines are followed will allow for smooth transactions and business in the host country without any cause for repercussions. Canadian Antitrust We will begin by discussingShow MoreRelatedEnron Case Study5921 Words   |  24 Pageswas convicted on 19 of 28 counts. He was sentenced to 24 years, 4 months in a federal prison. In addition he was ordered to pay $26 million out of pocket to restore the Enron pension fund. The result of Enron’s downfall contributed to the Sarbanes-Oxley Act (SOX) in 2002. 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