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FORM 2 INDEPENDENT REGULATORY BOARD FOR AUDITORS (Established under Section 3 of Act 26 of 2005)APPLICATION BY A FIRM FOR ADMISSION TO THE REGISTER OF AUDITORS (For application in terms of Section
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The Sarbanes-Oxley Act, commonly referred to as SOX, is a U.S. law enacted in 2002 to protect investors from fraudulent financial reporting by corporations. It established new or enhanced standards for all U.S. public company boards, management, and public accounting firms.
Public companies and their management are required to file reports under the Sarbanes-Oxley Act. This includes publicly traded companies and some private companies that are preparing for an initial public offering (IPO).
Filling out the form requires the public company's management to certify the accuracy of financial statements and disclosures. They must include test results from internal controls, as well as following specific guidelines and templates provided by the Securities and Exchange Commission (SEC).
The purpose of the Sarbanes-Oxley Act is to enhance corporate governance and accountability, increase transparency in financial reporting, and prevent corporate fraud.
The information reported includes financial statements, management's assessment of the effectiveness of internal controls over financial reporting, and disclosures regarding the company's financial condition and results.
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