Similarly all the smaller companies and foreign companies are required to meet these mandates for any statement they file after July 15th 2005.

This legislation has several features and provides new and improved standards for the public company boards, management, and the public accounting firms of the United States. There are eleven titles under this act. These titles contain several sections and sub pages. These sections include all the important areas and cover the topics like corporate board responsibilities, criminal penalties and sentences. According to the rules of this act, the Securities and Exchange Commission (SEC) is required to implement the requirements needed for the new laws. Many people believe that this legislation has helped to prevent the economic damages that occur.

The Sarbanes Oxley Act also provides the issuers and the organizations with the facility compliance.

There are a number of sections that specifically deal with Sarbanes Oxley compliance like section 302, 404 etc.

There is a very unique feature in this legislation. It allows the freedom to plan compliance. But one needs to be very careful while planning the compliance. Proper information is required about what is the Sarbanes Oxley act. The personnel need to have a complete knowledge of the Sarbanes Oxley Act definition and sections if they need to manage and plan their compliance on paper.

Sarbanes Oxley act has enabled to establish a quasi-public agency. According to this legislation, the Public Company Accounting has the responsibility of overseeing, regulating and inspecting the discipline of the accounting firms and the auditing officers of the public companies. Sarbanes Oxley act has helped to curb the scandals that were arising and has provided the organizations with profitable and clean dealings.