Sarbanes-Oxley

Issuers must meet regulatory requirements, including SEC filings and compliance with auditing standards set by the PCAOB.

The far-reaching legislation would transfer the responsibilities of the Public Company Accounting Oversight Board to the Securities and Exchange Commission.

The House Financial Services Committee is considering legislation to transfer the Public Company Accounting Oversight Board's responsibilities to the SEC.

By streamlining tasks such as risk assessment, control testing, and reporting, generative AI has the potential to increase efficiency across the entire SOX lifecycle.

Ethical standards in accounting encompass the moral principles and rules that accountants are required to adhere to during their professional work.

These audits are essential to ensure that integration processes are executed correctly, risks are identified and mitigated, and controls are in place to safeguard the organization's assets and financial reporting.

Despite over two decades of experience, complying with the Sarbanes-Oxley Act of 2002 doesn't seem to be getting any easier for audit and finance leaders.

Companies that went public before the slowdown in the IPO and SPAC markets have been having trouble complying with Sarbanes-Oxley requirements.

The board increased its enforcement activity significantly in 2022 and levied record-setting penalties.

The Institute of Internal Auditors sent a letter to lawmakers urging them to set new requirements for crypto exchanges in the U.S.

Private companies looking to go public will need to be ready to prepare periodic financial reports, demonstrate effective internal control over financial reporting and manage investor relations

They've also tripled since the passage of Sarbanes-Oxley in 2022, according to a recent report.

EY Americas vice chair John King discusses the impact and history of one of the most influential pieces of financial legislation of the past 50 years. 

Companies can get a "reasonable" level of assurance on their internal controls.

The board's chair, Erica Williams, said the PCAOB is working on updated auditing standards and stricter enforcement and inspections.

The PCAOB is being urged to update older standards more quickly.

Two decades after passage of the Sarbanes-Oxley Act, public companies are spending more time and money trying to comply with SOX requirements, despite the increasing use of technology to automate the process.

SOX compliance risks are multitudinous and may present themselves across all aspects of the corporate financial process, including month-end reconciliation.

The record number of companies going public through special purpose acquisition companies and initial public offerings last year could be facing some extra hurdles when it comes to Sarbanes-Oxley rules.

The idea behind Sarbanes-Oxley was that public companies require an extra layer of accounting checks and internal controls that private companies do not in order to protect average investors.