In this section, we will provide a brief overview of regional regulations that impact InFission financial reporting and disclosure compliance activities:
The Sarbanes-Oxley Act of 2002, enacted July 30, 2002, also known as Sarbox or SOX, is a United States federal law enacted on July 30, 2002, which set new or enhanced standards for all U.S. public company boards, management, and public accounting firms. It is named after sponsors U.S. Senator Paul Sarbanes (D-MD) and U.S. Representative Michael G. Oxley (R-OH).
The bill was enacted as a reaction to a number of major corporate and accounting scandals including those affecting Enron, Tyco International, Adelphia, and WorldCom. These scandals, which cost investors billions of dollars when the share prices of affected companies collapsed, shook public confidence in the nation's securities markets.
It does not apply to privately held companies. The act contains...