New provisions to toughen up Sarbanes-Oxley
The US Securities & Exchange Commission has today voted to propose rules implementing provisions of the controversial Sarbanes-Oxley Act, aimed at improving transparency and accountability.
The US Securities & Exchange Commission has today voted to propose rules implementing provisions of the controversial Sarbanes-Oxley Act, aimed at improving transparency and accountability.
Link: Sarbanes-Oxley special report
The new rules would, if passed, require public companies to disclose information about internal control reports, company codes of ethics and audit committee financial experts.
The proposals also include rules which would prohibit actions designed to improperly influence auditors.
The proposals include:
Companies have the 30 days in which to lodge comments with regards to the new proposals, after they have been published on the Federal Register.