How Does the Sarbanes-Oxley Act of 2002 Affect the Responsibilities

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The Answer is Under the terms of the Act,the chief executive officer and chief financial officer are responsible for development and enforcement of a strong set of internal controls.The company must report on the effectiveness of its internal controls.The CEO and CFO have ultimate responsibility for the accuracy of the company's financial statements.They must certify that,to their knowledge,the financial statements do not include False information or omit information that would be material.The managers of the company are required to establish a code of ethics and to report on the code of ethics in the 10K annual report filed with the Securities and Exchange Commission.Managers are also required to provide mechanisms for anonymous reporting of fraud within the company (to protect a potential whistleblower).

How Does the Sarbanes-Oxley Act of 2002 Affect the Responsibilities

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