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What are the penalties for noncompliance with Sarbanes-Oxley?

April 26, 2017noncompliance penalties Sarbanes-Oxley

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What are the penalties for noncompliance with Sarbanes-Oxley?

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Besides lawsuits and negative publicity, a corporate officer who does not comply or submits an inaccurate certification is subject to a fine up to $1 million and ten years in prison, even if done mistakenly. If a wrong certification was submitted purposely, the fine can be up to $5 million and twenty years in prison. For a consultation with Lorandos & Associates, call toll free 1-866-209-1237 or send the firm an e-mail.