Requirement (SOX)
Section 302: Corporate Responsibility For Financial Reports
Requirements SOX
Description
Description
The CEO and CFO of each issuer shall prepare a statement to accompany the audit report to certify the "appropriateness of the financial statements and disclosures contained in the periodic report, and that those financial statements and disclosures fairly present, in all material respects, the operations and financial condition of the issuer." A violation of this section must be knowing and intentional to give rise to liability. They are also responsible for establishing and maintenance of internal controls.
Comment
Concerns: auditees