Explain the Relevance of the Sarbanes Oxley Act to the Documentation

question 8

Essay

Explain the relevance of the Sarbanes Oxley Act to the documentation tools presented in this chapter.

---

Definitions:

Liabilities

Obligations owed by a company to third parties, such as loans, accounts payable, or mortgages, expected to be paid or settled.

Owner's Equity

The residual interest in the assets of a business after deducting liabilities.

Total Liabilities

The aggregate of all debts and financial obligations owed by a company to external entities at any point in time.

Owner's Equity

The residual interest in the assets of a business after deducting its liabilities, representing the owner's claim against the company's assets.