SOX Section 404

Introduction ( Enron )

It was giant company, and one of the largest energy companies in the world. The price of shares of this company reached up to $ 90 until mid-2000 but suddenly it dropped down to about 90 cents ..!!

This company collapsed with assets worth $ 63.4 billion.

What was The Reaction !

The SOX :

• The law is named after sponsors Senator Paul Sarbanes and Representative Michael G. Oxley.
• Officially titled the Public Company Accounting Reform and Investor Protection Act
• commonly called SOX or SarbOx Sarbanes–Oxley Act

About the SOX ..

• it was signed into law on July 30, 2002 by President George W. Bush .
• It was the most significant change in the United States securities laws since the New Deal in the 1930s.
• In response to the perception that stricter financial governance laws are needed, SOX-type laws have been subsequently enacted in …