Sarbanes-Oxley Act Provisions

Front 1

Section 301

Back 1

Audit Committee

Hint 1

This section places the responsibility of hiring and compensating the company auditors with the Audit Committee. The committee is also required to establish mechanism to receive, retain, and treatment of complaints regarding accounting, internal accounting controls, or auditing matters.

Front 2

Section 302

Back 2

Responsibility for Financial Reports

Hint 2

CEO and CFO are required to issue a certification with their quarterly and annual report stating that the financial statements are accurate and they are not aware of any material misstatement in financial statements. The certification also requires that the CEO and CFO understand that they are responsible for establishing, maintaining and evaluating internal controls.

Front 3

Section 402

Back 3

Conflicts of Interest

Hint 3

Prohibits, directly or indirectly, including through any subsidiary, to extend or maintain credit, to arrange for the extension of credit, or to renew an extension of credit, in the form of a personal loan to or for any director or executive officer.

Front 4

Section 404

Back 4

Management's Assessment of Internal Controls:

Hint 4

Each public company annual report should contain an assessment, as of the end of the most recent fiscal year of the issuer, of the effectiveness of the internal control structure and procedures of the issuer for financial reporting.

Front 5

Section 406

Back 5

Code of Ethics

Hint 5

A code of ethics is required for senior financial officers, applicable to the principal financial officer, comptroller or principal accounting officer, or persons performing similar functions.

Front 6

Section 407

Back 6

Audit Committee Financial Expert

Hint 6

Each public company audit committee is required to have one designated financial expert. The financial expert is defined as someone who has the knowledge of US GAAP, experience with preparation and auditing of financial statements and internal accounting controls, and understands the audit committee functions.

Front 7

Section 802

Back 7

Criminal Penalties for Altering Documents

Hint 7

This section established criminal penalties including a fine and imprisonment of up to 20 years of both. Criminal penalties may be applied to whoever knowingly alters, destroys, mutilates, conceals, covers up, falsifies, or makes a false entry in any record, document, or tangible object with the intent to destruct, alter, or falsify records in Federal investigations and bankruptcy.

Front 8

Section 806

Back 8

Whistleblower Protection

Hint 8

This section establishes the whistleblower protection provisions to protect the employees of the publically traded companies who may report any wrongdoing to federal authorities as well as his supervisor. The section provides for civil liabilities to prevent discrimination against the whistleblower.

Front 9

Section 906

Back 9

Corporate Responsibility for Financial Reports

Hint 9

A statement of required with the periodic reports by the CEO and CFO that information contained in the periodic report fairly presents, in all material respects, the financial condition and results of operations of the issuer.

Front 10

Section 1107

Back 10

Retaliation Against Informants:

Hint 10

This section provides for the criminal liabilities against the individuals who retaliate against the informants who provides truthful information relating to the commission or possible commission of any Federal offense to any law enforcement officer. The criminal liabilities include a fine and imprisonment of up to 10 years, or both.