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Does the Sarbanes Oxley Act really protect? Explain and provide an example.?
- Anonymous1 decade agoFavorite Answer
IT creates a system of accountability to ensure truth in reporting of all matters financial. It also requires the CEO to attest that the financial statements are a true representation of the companies financial position.
- Anonymous1 decade ago
It's a self-testing method for Corporations to check and see if they have the right checks and balances system.
Say I have access to send a bank wire. A test might be to print out everyone that has access. Now check to see if they absolutely need access or no and are there proper check points in place.