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This is a listing of some of the more common terms and definitions associated
with Sarbanes Oxley and Sarbanes Oxley compliance, and Sarbanes Oxley Software.
Turnbull/Cadbury:
- Turnbull/Cadbury Definition
The 1999 Turnbull Report was produced focusing on how companies manage
internal controls and their risks, for example the risk of
corporate fraud. Key proposals which will affect directors
include introduction of a legislative statement of directors'
duties; the introduction of a new general duty of “promotion
of the company objectives; and a requirement that directors
are pro-active in providing auditors with all the information
that they require to carry out their function. Failure to
comply with this requirement, or knowingly or recklessly providing
a misleading, false or materially deceptive statement will
constitute an offence under the new law (sounds like Section
303 of Sarbanes-Oxley).
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