The 107^th Congress passed the Sarbanes-Oxley Act (SOX) in 2002. An article from the William Mitchell Law Review (Vol. 30, Iss.4 [2004], Art 12), was published in 2004 and presented a general overview of SOX initiatives as follows:

• Creating the Public Company Accounting Oversight Board
• Enhancing independence of public company auditors
• Regulating corporate governance and responsibility
• Enhancing financial disclosure
• Regulating securities analyst conflicts of interest
• Adding new substantive crimes under the securities laws
• Enhancing penalties for violations of the securities and other laws
• Providing additional funding of the SEC and SEC regulatory authority enhancements

INSTRUCTIONS

Using the official U.S. Government Public Law (pdf document) Sarbanes-Oxley Act of 2002, Pub. L. No. 107-204, 116 Stat. 745 (2002) as your research source, you must answer ten questions for this assignment. This document is located on the left side of the screen identified as Files (i.e., paperclip icon) below the eBook icon. Download the file to your computer.

Answer items 1 through 9 using the legal reference for quoted information and be exact in your response.

Note: ONE key space must separate each identifying reference level and letters are case-sensitive.

Example: Under Section 302, it states the signing officer has reviewed the report; provide the correct reference. Answer: (a) (1)

• If typed (a)(1) your answer will be marked as incorrect, the correct answer is (a) (1)
• If referenced information is indented three times, it represents another parenthesized item. Example:(a) (5) (A)

Answer item 10 and fill-in the correct name of the U.S. government agency.

#1_Typing only a 3-digit numeric answer, what is the section number titled Corporate Responsibility for Financial Reports? ___

#2_Under Section 302, it states are responsible for establishing and maintaining internal controls; provide the correct reference. ___

#3_Under Section 302, it states the signing officer has reviewed the report; provide the correct reference. ___

#4_Under Section 302, it states have evaluated the effectiveness of the issuers internal controls as of a date within 90 days prior to the report; and; provide the correct reference. ___

#5_Under Section 906, it states willfully certifies any statement as set forth in subsections (a) and (b) of this section knowing that the periodic report accompanying the statement does not comport with all the requirements set forth in this section shall be fined not more than $5,000,000, or imprisoned not more than 20 years, or both. provide the correct reference. ___

#6_Under Section 404, it states contain an assessment, as of the end of the most recent fiscal year of the issuer, of the effectiveness of the internal control structure and procedures of the issuer for financial reporting. provide the correct reference. ___

#7_Under Section 404, it states state the responsibility of management for establishing and maintaining an adequate internal control structure and procedures for financial reporting; and provide the correct reference. ___

#8_Under Section 3, it states The Commission shall promulgate such rules and regulations, as may be necessary or appropriate in the public interest or for the protection of investors, and in furtherance of this Act; provide the correct reference. ___

#9_Under Section 101, it statesestablish or adopt, or both, by rule, auditing, quality control, ethics, independence, and other standards relating to the preparation of audit reports for issuers, in accordance with section 103; provide the correct reference. ___

#10_Under Section 2 (a) (6), it defines the term COMMISSION. What does this term mean? Provide the name of the U.S. government agency. ___