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Sarbanes-Oxley

The Sarbanes-Oxley Act was the most significant legislation to emerge in response to the corporate governance failures at the start of the 21st century. On this page members can access a selection of resources on the Sarbanes-Oxley Act including articles and books that look at its impact and suggest practical steps to tackle compliance.

What's on this page?

  • eBooks
  • Online articles
  • The Act and regulations
  • Resource centres
  • Reports
  • Books and articles from the Library

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Featured article

Is the Sarbanes-Oxley Act working?
Has the Sarbanes-Oxley Act has succeeded in its aims of making financial reporting more transparent, improving corporate governance and regulating the auditing profession?

You will need to be logged-in to the website to access this article.

Featured book

Corporate governance handbook
Chambers, A. (Bloomsbury Professional, 2014, 1099 pages)
This book advises on functioning within the legal, ethical and practical parameters of corporate governance. Includes a chapter on audit committees and Sarbanes-Oxley in the UK.

To borrow this book please contact the Library.

eBooks

The Library provides full text access to a selection of key business and reference eBooks from leading publishers. eBooks are available to logged-in ICAEW members, ACA students and other entitled users. If you are unable to access an eBook, please see our Help and support advice or contact library@icaew.com.

Accounting control best practices

Addresses one of the primary concerns in accounting today - how to develop a comprehensive system of accounting and operational controls. This concern has been exacerbated by the provisions of the Sarbanes-Oxley Act, which requires public companies to report an assessment of their internal control structures and which has led to comprehensive control examinations by all types of companies. This second edition describes a complete set of controls for both a paper-based accounting process and a computerized system and then describes controls for more advanced best practices that are layered on to the basic computerized system. This second edition includes new chapters describing control systems for budgeting, collections, and financial reporting.

Accounts payable and Sarbanes Oxley

Looks at the Sarbanes-Oxley Act (SOX) and how accounts payable functions can strengthen their internal controls. Includes information on the proper documentation and necessary guidelines needed to conform with SOX and ensure accounts payable departments are compliant.

How to comply with Sarbanes-Oxley section 404: assessing the effectiveness of internal control

Features step-by-step guidance for evaluating a company's internal control and proving these systems are in place. Contains forms, checklists, illustrations, diagrams, and tables to assist auditors involves in an internal control evaluation.

Internal audit reports post Sarbanes-Oxley: a guide to process-driven reporting

Looks at the changes made by the Sarbanes-Oxley Act and the standards, rules and tools applicable to the internal audit process. Contains sections on process-driven reporting and report writing, and appendices with professional standards.

Terms of use: You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.

Online articles

The library provides access to a range of articles in full text from leading business, finance and management journals. Access to articles is provided to logged-in ICAEW members, ACA students and other entitled users subject to suppliers' terms of use.

Research refutes Sarbanes-Oxley critics

Strong evidence exists of a link between auditor-identified weak internal controls and subsequent fraud cases. New research, discussed in this article, finds that requirements of Section 404(b) of the Sarbanes-Oxley Act do provide an effective early warning system for company fraud.

As SOX costs persist companies automate more controls

The article discusses the increasing number of companies that turn to automation of internal control over financial reporting to cope up with the increasing cost and audit demands for Sarbanes-Oxley (SOX) Act compliance.

Years later, Sarbanes-Oxley is part of how companies do business

Thirteen years since the Sarbanes-Oxley Act (SOX) was approved, it has become engrained in the way U.S. companies do business. The main ongoing challenges in complying with SOX relate to corporate whistleblowing and expanding into global markets.

Latest state of affairs on whistleblower claims

The U.S. Occupational Safety and Health Administration (OSHA) has published a final rule expanding protection for whistleblowers under the Sarbanes-Oxley and Dodd-Frank acts.

Assurance news: Rotation leading to lower audit fees in Europe

The U.S. Public Company Accounting Oversight Board (PCAOB) had been considering requiring mandatory audit firm rotation, but has been discouraged by a European trend towards lower audit fees since the European Parliament approved mandatory rotation.

Audit fees head higher after decades of declines

For the first time since the introduction of the Sarbanes-Oxley Act, audit fees in the U.S. are increasing - in response to regulatory demands and high salaries for accountants and auditors.

Buying time on COSO's control framework update

Companies that are behind in the implementation of the new COSO 2013 framework are starting to consider the delay-and-disclose option. Transition tips are provided.

SOX after ten years: A multidisciplinary review

The authors have reviewed and assessed research findings from more than 120 papers in accounting, finance, and law to evaluate the impact of the Sarbanes-Oxley Act.

Are your clients ready for the new COSO internal framework?

A five-step process to achieve transition to the new COSO 2013 framework is provided.

Is the Sarbanes-Oxley Act working?

Has the Sarbanes-Oxley Act has succeeded in its aims of making financial reporting more transparent, improving corporate governance and regulating the auditing profession?

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Useful links

The Act and Regulations

Sarbanes-Oxley Act 2002 
The final version of the act, as passed by both houses and including parts of the original bills passed by the House of Representatives and the Senate. The act (now described as the Sarbanes-Oxley Act of 2002) was passed by both houses and cleared for the White House on 25th July 2002. President Bush signed the act on July 30th 2002.

Spotlight on: Sarbanes-Oxley Rulemaking and Reports 
U.S. Securities and Exchange Commission

Spotlight on: Implementation of Internal Control Reporting Provisions 
U.S. Securities and Exchange Commission

Resource centres

Sarbanes Oxley Implementation Centre 
Resource centre produced by AICPA providing background information on the act and its requirements along with a collection of guidance, studies and links to relevant SEC/PCAOB documents.

Reports and guidance

The Sarbanes-Oxley Act at 10 
Ten years on from the passing of the Sarbanes-Oxley Act, this 2012 report by Ernst & Young reviews the Act’s key provisions, perspectives on some improvements brought about by SOX and opportunities for further enhancements to the financial reporting system.

The Turnbull guidance as an evaluation framework for the purposes of Section 404(a) of the Sarbanes-Oxley Act (FRC) 
Guide for UK and Irish companies registered with the SEC 'on the use of the Turnbull guidance when complying with US requirements to report on internal controls over financial reporting' (PDF: 40KB, 14 pages). The guide was published by the Financial Reporting Council (FRC) on 16th December 2004 and made available through the FRC Corporate website.

Taking Control: A Guide to Compliance with Section 404 of the Sarbanes-Oxley Act of 2002 
A publication from Deloitte providing 'step-by-step guidance on implementing a strong system of internal control to meet the requirements of Sarbanes-Oxley section 404'. The publication was made available online in July 2004.

Under Control: Sustaining Compliance with Sarbanes-Oxley in Year Two and Beyond 
A follow up to the Deloitte publication 'Taking Control' which looks at how companies can find more value from section 404 compliance. The publication states that it 'provides practical advice and analyses critical shortcomings that many companies experienced in their first-year efforts'. Published in March 2005 (PDF format, 20 pages).

Articles and books in the Library collection

To find out how you can borrow books from the Library please see our guide to book loans.

You can obtain copies of articles or extracts of books and reports by post, fax or email through our document supply service.

Can't find what you are looking for?

If you're having trouble finding the information you need, ask the Library & Information Service. Contact us by telephone on +44 (0)20 7920 8620, by web chat or by email at library@icaew.com.

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