Resources 
The Sarbanes-Oxley Act (SOx), passed by U.S. Congress in 2002 and also known as the Public Company Accounting Reform and Investor Protection Act, protects investors from the possibility of fraudulent accounting activities by corporations, mandates strict reforms to improve financial disclosures from corporations and prevent accounting fraud. SOx was enacted in response to the accounting scandals in the early 2000's by Enron, Tyco, and WorldCom. The act is administered by the Securities and Exchange Commission (SEC), which sets deadlines for compliance and publishes rules on requirements. SOx defines which records are to be stored not less than five years, and affects how IT departments store a corporation's electronic records. The key sections are:
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Title I, 101 - 109 Public Company Accounting Oversight Board
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Title II, 201 - 209 Auditor Independence
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Title III, 301- 308 Corporate Responsibility
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Title IV, 401 - 409 Enhanced Financial Disclosures
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Title V, 501 Analyst Conflicts of Interest
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Title VI, 601 - 604 Commission Resources and Authority
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Title VII, 701 - 705 Studies and Reports
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Title VIII, 801- 807 Corporate and Criminal Fraud Accountability
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Title IX, 901 - 906 White Collar Crime Penalty Enhancements
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Title X, 1001 Corporate Tax Returns
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Title XI, 1101 - 1107 Corporate Fraud and Accountability
Praetorian Secure can help an organization with its controls program management including establishing processes, accuracy, reporting, file management and retention. The consequences for non-compliance are fines, imprisonment, or both. By utilizing our industry experience and knowledge with various compliance measurements, Praetorian Secure will work with our clients to evaluate controls designed to prevent or detect fraud, including management override of controls, and perform fraud risk assessments.
For more information:
http://www.dol.gov
