H.R. 3763 · 107th Congress · enacted
Sarbanes-Oxley Act of 2002
Became Public Law No: 107-204.
Latest official action 2002-07-30 · Enacted
The bill, briefly
Corporate and Auditing Accountability, Responsibility, and Transparency Act of 2002 - States that the Securities and Exchange Commission (SEC) shall not accept a financial statement certified by an accountant unless such accountant is subject to oversight by a public regulatory organization (PRO), and is in good standing with it. (Sec. 2) Directs the SEC to prescribe the criteria that would permit recognition of a PRO for purposes of this Act, including: (1) a five member board composed of three non-accountants and two accountants; (2) the capacity to review work product and potential conflicts of interest; (3) the authority to impose sanctions for intentional or knowing misconduct, including a determination that an accountant is not qualified to certify a financial statement or certain categories of financial statement; and (4) procedures for notifying the relevant organizations or persons of review procedures and results and any other relevant information. Requires such organization to be self-funded and not solely dependent on members of the accounting profession. Requires the SEC to comply with the PRO's requests to compel testimony or production of records unless it determines that to do so would not be in the public interest. Directs the SEC to revise auditor independence regulations so as to exclude financial information system design or implementation or internal audit …
Congressional Research Service · 2002-04-22
Who reported lobbying on this bill?
Amount spent specifically on this bill: not disclosed
The reports below name this bill and disclose an organization’s overall lobbying expenses or a firm’s client income for the period. They can cover many bills and issues. These amounts are not payments to the bill or its politicians.
No matching lobbying report is imported yet. This is not evidence that no lobbying occurred.
2,409 latest lobbying reports imported. Some source imports are still in progress.
Politicians behind the bill
Sponsors and cosponsors from the official source, limited to members currently in office. Campaign amounts are cycle-wide and are not payments for this bill.
No current-officeholder sponsorship match is available. Historical sponsors may have left office.
30 of 30 source cosponsor records retrieved; only current officials and unwithdrawn sponsorships appear.
PAC donors to the listed sponsors
These are all-cycle contributions to the listed sponsors’ and cosponsors’ campaigns. FEC does not attribute them to this bill. A donation plus sponsorship does not establish why a politician acted.
The largest 40 donor totals appear here. Open each politician for their complete, paginated PAC donor list.
What happened after enactment?
Dated agency-reported implementation and uptake measures are shown with their scope. They do not by themselves establish causal success. If no evidence is listed, the outcome is not established.
Measured outcome: not established
Enactment alone does not show whether a law improved its intended outcome. We need a dated evaluation, observed result or verified implementation record before claiming success or failure.