The Sarbanes-Oxley Act is a piece of legislation passed by Congress that holds chief executive officials of publicly traded firms accountable for any misleading assertions or omissions.
Sarbanes-Oxley 2002 Act, a piece of federal legislation, set strict financial and auditing criteria for organizations with publicly listed stock. Legislators passed the Act to help protect investors, laborers, and the wider public from accounting errors and unethical accounting functions.
While the majority of Sarbanes-requirements Oxley's only pertain to publicly traded firms, two of them—forbidding retaliation against whistleblowers and instead prohibiting the deletion, alteration, or concealing of specified records or the obstruction of studies to nonprofit organizations.
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