What are the provisions in the Sarbanes-Oxley Act 2002 and the New York Stock Exchange listing...

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What are the provisions in the Sarbanes-Oxley Act 2002 and the New York Stock Exchange listing requirements that are aimed at improving corporate governance and are directly related to audit committees?View Solution:
What are the provisions in the Sarbanes Oxley Act 2002 and

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Provisions: 
Paul Sarbanes, the bill's sponsor, and Michael G. Oxley, the bill's representative, proposed the Sarbanes-Oxley Act of 2002. Enron and WorldCom are just two examples of recent financial scandals that have influenced the creation of this regulation. This regulation was created with the intention of creating tight rules for all publicly traded US firms. This act incorporates the Securities and Exchange Commission (SEC) and the Public Company Accounting Oversight Board (PCAOB), which are tasked with supervising, regulating, inspecting, and establishing disciplinary guidelines for accounting firms with regard to their specific roles as public company auditors. 
All companies that are registered are required to abide by a number of sections and rules. The nine sets of mandates that must be obeyed by registered companies total nine.
	Sections
	Topics
	101 to 109
	Creation, direction, funding, and responsibilities of PCAOB
	302, 401 to 406, 408 & 409 and 906
	New disclosure regulations, including officer, certifications, control systems
	201 to 209 and 303
	Relationship between the regulation of publicly traded company auditors and their clients
	301; 304; 306; 407
	Corporate responsibility for listed companies (Rules of the audit committee prohibit officer loans.)
	501
	governing securities analysts
	305, 601 to 604, 1103 & 1105
	SEC funding & powers
	802; 807; 902 to 905, 1102; 1104; 1106
	Criminal consequences
	806 & 1107
	Protections of Whistleblowers
	308, 803 & 804
	Miscellaneous (time restrictions, bankruptcy legislation,

What are the provisions in the Sarbanes-Oxley Act 2002 and the New York Stock Exchange listing requirements that are aimed at improving corporate governance and are directly related to audit...

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