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Last Update:  2/14/2013
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[ Since 1984 ]
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PRESS RELEASE
The Integrity News

Vol. XII No. 6
ISSN 1081-2717
February 12, 2003


Treasury & Risk Management
Vol. 13, Issue 2    (pgs. 14-20)

February, 2003

Much Ado, Or
Much To Do ?

The Key Provisions of the Sarbanes-Oxley Act:

    Establishes a new regulator, the five-member Public
Company Accounting Oversight Board, to register and
oversee public accounting firms.
( Sections 101-107 )

    Bars a company's outside auditor from performing
many non-audit services for the company.
( Section 201 )

    The lead audit partner and the reviewing partner
must rotate every five years.
( Section 203 )

    Requires that all audit committee members be
independent. The audit committee appoints and
oversees outside accounting firms. It also has
the authority to engage counsel or consultants
to help it carry out its duties.
( Section 301 )

    Requires companies to disclose whether one member
of the audit committee is a financial expert.
( Section 407 )

    Requires CEOs and CFOs to sign off on the company's
financial statements and its internal controls. Possible
penalties for falsehoods: fines or jail time.
( Sections 302, 404, 906 )

    Outside auditors must attest to the company's internal
controls.
( Section 404 )

    If a company has to restate its financials due to
"material non-compliance" with reporting requirements,
its CEO and CFO have to give back any bonuses or
incentive- or equity-based compensation, as well as
any profits from selling company stock, they received
in the 12 months following the filing of the financials.
( Section 305 )

    Officers, directors, and other insiders are prohibited from
trading company stock during pension-fund blackout periods.
( Section 306 )

    The Act bars companies from extending credit to executive
officers and directors.
( Section 402 )

    Requires faster filing of Section 16 forms detailing
transactions by executive officers and directors.
( Section 403 )


EARLIER
NEWS ITEMS
The Resume
   Problem
Immigration Reform
   Will Mean:
   Employers MUST
   Enforce
   Employment
   Eligibility
   Verification
Economic
   Espionage
Guerrilla
   Reference
   Checks
The Mobile
   Integrity
   Connection (tm)
NEW U.S.
   Law Increases
   Employer Risk
Time
   To
   Shred
Three New
   H.R. Videos
"7 Ways
   To Avoid
   Employees From
   Hell"
Form I-9 Update
   and NEW
   Form I-9 Tools
New Federal Laws
   To Consider
Access To News
   Items For HR
   And Security
   Professionals
Sarbanes-Oxley
   and
   Background
   Checking
Using
   Credit Bureau
   Reports In The
   Hiring Process
Talent Assessments
   Before Mergers
   Acquisitions
   or Investments
Vicarious
   Liability
Medical
   Identity Theft
Federal
   Civil
   Litigation
   Histories
New Items
   for HR and
   Security
   Professionals
Employers
   Offer Help
   Fighting
   I.D. Theft
Avian Flu:
   Business Thinks
   The Unthinkable
New Federal
   Rules That
   Govern Online
   Recruiting
Gaffe Shows Need
   To Screen Current
   Employees At
   Promotion Time
The
   Baby Boomer
   Exodus
Document
   Disposal Law
   Kicked In
   June 1, 2005
A New Wrinkle
   On Age Bias
Don't Let Your
   Vendors
   Compromise
   Employee
   Identity Data
Annoying Hacking
   Has Now Become
   Organized Crime
Persuading
   Your Company
   Management To
   Encourage
   Training
Mainstream Media
   FINALLY Address
   Risks Of Using
   Databases For
   Employment
   Screening
HR Automation
   Can Improve
   Company Finances
   And Innovation
Employers Beware
   The
   "Seal of Approval"
Identity
   Verification
The
   Outsourcing
   Hole
Cyber Age
   Employee Crimes
Security Risk
   From Mobile
   Media Devices
More FCRA
   Amendments
   Could Be Coming
   By Year's End
The FCRA
   Was Amended
   On 12/4/03
Physical Security
   and Information
   Security are
   Merging
Increase
   HR Productivity
Homeland
   Security
   Guidelines
Sarbanes-Oxley:
   Road To
   Compliance
WARNING
Stored Data
   Warning Signs
How to FIND,
   FIX or FIRE,
   Your POOR
   PERFORMERS
ID Verification --
   Inexpensive and
   VERY Effective
The Darkest Side
   Of Identity Theft
Companies Dig
   Deeper Into
   Executive's Pasts
Fraud And New
   Scrutiny Of
   Executives
Be Careful With
   Instant Messaging
   and Wi-Fi
STRESS
Identity
   Management
California
   Data Privacy Rule
Obtaining
   Criminal Histories
   In New York State
"The Privacy Rule"
   in HIPAA
Putting A Crimp In
   The Management
   Of Spam
New Technology
   Facilitates
   Corporate
   Espionage
Identity Theft
   Checklist
Monitoring
   Employees
The Domestic
   Security
   Enhancement Act
NEW
   Overtime
   Pay Rules
The High Cost
   Of Penny-Ante
   Scams
"Signs" That
   You Need To Do A
   Periodic Check
FTC Charges A
   Company With
   FCRA Violations
The NEW
   Integrity
   Connection (tm)
Workplace
   Safety
   Checklist
HR is Splitting
   Into Two
   Separate Parts
Keep Your Eye On
   RFID Technology
Improv At
   The Interview
Real Security
   Won't Come Easy
   Or Cheap
DOs & DON'Ts
   To Minimize
   Violence
Identity
   Theft
Snapshots of
   Federal Laws
TIPS for
   Gramm-Leach-Bliley
   Compliance
The Sarbanes -
   Oxley Act
NEW Calif.
   Background
   Checking Laws
The Benefits
   Of Online
   Job Applications
Compensation
   --- Now It's
   Getting Personal
The United States
   Security Network
Supreme Court
Limits ADA
Supreme Court Will
   Review Law On
   Age Discrimination
Management Sleaze
The Examiner (tm)
Helps You Uncover
The New Face
Of Corporate
Responsibility
The Sarbanes-Oxley
   Corporate
   Reform Law
The Corporate Spy
National Wants and
   Warrants Illegal
No Dangerous
   Jobs For Disabled
Security
   Precautions
   for Businesses
Terminating
   An Employee
Listening in an
   Interview
Arbitration
   vs.
   Litigation
Supreme Court
   Eases Rules for
   Workers Who Sue
Drug Abuse
   Statistics
The Enemy
   Within
Priority:
   Integrity
Funding Terrorism
   With
   Information Theft
Corporate America
vs.
Copyright Theft
Mental Illness
   Workplace Costs
How to
   Fire Properly
Lying
   On Resumes
Workplace
   Guidelines
   To Be Voluntary