What is Sarbanes Oxley?
The Sarbanes-Oxley Act of 2002, also known as the Public Company Accounting Reform and Investor Protection Act of 2002 and commonly called SOx or SarbOx, is a federal law passed in response to a number of major corporate and accounting scandals. These scandals resulted in a decline of public trust in accounting and reporting practices. The legislation is wide ranging and establishes new or enhanced standards for all U.S. public company Boards, Management, and public accounting firms. The Act covers issues such as auditor independence, corporate governance and enhanced financial disclosure. Among the Sarbanes-Oxley Act’s major provisions in one that includes a requirement those public companies evaluate and disclose the effectiveness of their internal controls. It is generally this requirement that gives attention to the need for companies to have detailed information control systems – including secure disposal of obsolete business records. What is HIPAA? “HIPAA” or the Health Insurance
