Senior corporate officers
Governed by the Securities and Exchange Commission, the Sarbanes-Oxley Act of 2002 (SOX) is a federal law in the US (SEC). Publicly listed companies must comply with SOX requirements, which include having appropriate internal control frameworks in place to ensure that their financial statements accurately reflect their financial results. Sections 302, 404, and 802 are the section numbers for three of its major clauses that are frequently referred to. Senior Corporate officer who knowingly approve fake financial statements risk going to jail according to the Sarbanes-Oxley Act of 2002. The SOX Act, sometimes known as the Sarbanes-Oxley Act, was passed in 2002. Alternatively, it is referred to as the "Public Company Accounting Reform and Investor Protection Act."
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