What Provisions of the Sarbanes-Oxley Act Pertain to Nonprofit Charitable

question 16

Essay

What provisions of the Sarbanes-Oxley Act pertain to nonprofit charitable organizations? Do you believe that other provisions should also apply?

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Definitions:

Breach Of Contract

A failure to perform any promise that forms all or part of a contract.

Condition Precedent

A condition that must be fulfilled before a contract becomes effective or before an obligation is required to be performed.

Injunction

A legal directive mandating that a person or organization either perform or halt a particular act.

Compensatory Damages

financial awards given to a plaintiff to reimburse actual losses, expenses, or suffering due to the defendant's wrongful act.