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Sarbanes-Oxley: What You Need to Know


Overview/Description
Target Audience
Expected Duration
Lesson Objectives
Course Number



Overview/Description
Sparked by a wave of dramatic corporate and accounting scandals, the Sarbanes-Oxley Act was signed into law on July 30, 2002. The law is intended to protect investors by improving the accuracy and reliability of corporate disclosures required by law, and to enforce compliance by making both corporations and individuals accountable for their actions via administrative, civil, and criminal enforcement mechanisms. Sarbanes Oxley provides the most forceful protections to date for corporate whistleblowers: it prohibits retaliation against whistleblowers, reinforces the act of whistleblowing, and requires public companies to adopt a code of business ethics and protocols for receiving and reviewing reports of fraudulent activities. While most employees' job duties do not include the implementation of the compliance requirements for corporate disclosures, they still need to know what constitutes fraudulent activity under Sarbanes Oxley so they can report any violations within their organizations, without fear of retaliation. In this course, you'll learn about the key provisions of the Sarbanes-Oxley Act and how it defines fraudulent activities. You'll also learn about the civil and criminal penalties for violating Sarbanes Oxley and about the protection that the Act provides to corporate whistleblowers. This course was developed with subject matter support provided by the Labor & Employment Law Group of the law firm of Baker, Donelson, Bearman, Caldwell & Berkowitz, PC. Please note, however, that the course materials and content are for informational purposes only and do not constitute legal advice. Nothing herein, or in the course materials, shall be construed as professional advice as to any particular situation or constitute a legal opinion with respect to compliance with any federal, state, or local laws. Transmission of the information is not intended to create, and receipt does not constitute, an attorney-client relationship. Readers should not act upon this information without seeking professional counsel. The information contained herein is provided only as general information that may or may not reflect the most current legal developments. This information is not provided in the course of an attorney-client relationship and is not intended to constitute legal advice or to substitute for obtaining legal advice from an attorney licensed in your state.

Target Audience
All employees

Expected Duration (hours)
1.0

Lesson Objectives

Sarbanes-Oxley: What You Need to Know

  • recognize key concepts relative to the main provisions of the Sarbanes-Oxley Act
  • identify the main areas of corporate and auditing responsibility under the Sarbanes-Oxley Act 2002
  • identify the types of actions that are considered violations of the Sarbanes-Oxley Act
  • recognize how the provisions of the Sarbanes-Oxley Act afford legal protection for corporate whistleblowers
  • recognize why it is important for employees to be aware of the protection Sarbanes-Oxley provides to corporate whistleblowers
  • Course Number:
    lchr_01_a19_lc_enus