Thursday, August 07, 2008

Sarbanes-Oxley Act 2002 -Sec 302

Periodic statutory financial reports are to include certifications that:
• The signing officers have reviewed the report
• The report does not contain any material untrue statements or material omission or be considered misleading
• The financial statements and related information fairly present the financial condition and the results in all material respects
• The signing officers are responsible for internal controls and have evaluated these internal controls within the previous ninety days and have reported on their findings
• A list of all deficiencies in the internal controls and information on any fraud that involves employees who are involved with internal activities
• Any significant changes in internal controls or related factors that could have a negative impact on the internal controls
Organizations may not attempt to avoid these requirements by reincorporating their activities or transferring their activities outside of the United States

No comments: