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Sarbanes Oxley Act Definition

Sarbanes-Oxley Act – n : a business reform act signed to law on July 30, 2002. The Act mandated a number of reforms to enhance corporate responsibility, enhance financial disclosures and combat corporate and accounting fraud, and created the "Public Company Accounting Oversight Board," also known as the PCAOB, to oversee the activities of the auditing profession. The full text of the Act is available at:  The Act has many implications for private businesses. You should consult your attorney about how the Act will effect your business.

Adapted from "The CompanyCrafters Entrepreneur's Dictionary"
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