Sarbanes-Oxley Act of 2002

ALSO CALLED: Sarbox, Sarbanes Oxley Act 2002, SOX, Sarbanes-Oxley (SOX) Section 404, Section 404, Public Company Accounting Reform and Investor Protection Act, Sarbanes Oxley Act, Sarbanes Oxley, Sarbanes-Oxley, and Sarbanes Oxley Law
DEFINITION: SOX Section 404 (Sarbanes-Oxley Act Section 404) mandates that all publicly-traded companies must establish internal controls and procedures for financial reporting and must document, test and maintain those controls and procedures to ensure their effectiveness. The purpose of SOX is to  … 
Definition continues below.

SARBANES-OXLEY ACT OF 2002 DEFINITION (continued): … SOX Section 404 (Sarbanes-Oxley Act Section 404) mandates that all publicly-traded companies must establish internal controls and procedures for financial reporting and must document, test and maintain those controls and procedures to ensure their effectiveness. The purpose of SOX is to reduce the possibilities of corporate fraud by increasing the stringency of procedures and requirements for financial reporting.
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