Sarbanes-Oxley Act of 2002 - Disclosure Controls and Procedures
- Topics:
- Investor Relations
- Tags:
- Disclosure,
- Sarbanes-Oxley,
- Regulatory Compliance,
- Regulations,
- Procedure,
- Policies And Procedures,
- Human Resources,
- Government,
- Financial Accounting,
- Finance,
- ...
- Source:
- Manatt, Phelps & Phillips
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Overview: Final rules under Section 302 of the Sarbanes-Oxley Act became effective on August 29, 2002. These rules require that the chief executive officer and chief financial officer of each company filing periodic reports with the SEC certify that they have established and maintain "disclosure controls and procedures" with respect to periodic reports that such company files under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The CEO and CFO are personally responsible for establishing and maintaining an overall system of disclosure controls and procedures that is adequate to meet a company’s Exchange Act reporting obligations and have the responsibilities that are recorded in this article. Senior management of a company must evaluate the company’s disclosure controls and procedures with 90 days of filing each quarterly or annual report. The SEC has not mandated any particular method for conducting a periodic evaluation of a company’s disclosure controls and procedures.
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Format: HTML | Date: Jan 2003 | Pages: 1
