The Sarbanes-Oxley Act

After the very public accounting scandals involving companies such as Enron, WorldCom, and Tyco International, the United States government passed the Sarbanes-Oxley Act, or SOX. This act was passed in an effort to reaffirm public faith in companies and their investors and to ensure that the same sort of incident would not happen again in the future. SOX was passed in 2002 and is comprised of eleven different elements designed to solidify regulations of public companies.

Additionally, this act contains some elements that affect employment law and regulations in the United States. If you or someone you love has lost their job because of the irresponsible or illegal actions of another, you may be able to take action against the liable party. Contact the Houston employment attorneys at the Ross Law Group by calling 713-482-6910 to find out about your options today.

Elements of the Sarbanes-Oxley Act

The goal of all 11 sections of SOX is to outline various ways that financial reporting must follow certain standards and regulations. They include requirements to:

• Strengthen the penalties for white collar crimes
• Put a cabinet in place to oversee the accounting of public companies
• Protect whistleblowers
• Ensure that senior executives are held personally responsible for corporate finances

These and the other elements in the act are designed to ensure that investors and employees can trust the accounting divisions of their companies to follow the requirements of public companies in the United States.

Contact Us

The Sarbanes-Oxley Act and others like it were passed to ensure the safety of employees and investors. If you or someone you love has been fired in a manner that violates this act, you may be entitled to compensation for your wrongful termination. Contact the Houston labor attorneys of the Ross Law Group at 713-482-6910 today for more information.