Austin SOX Whistleblower Lawyers
Sarbanes-Oxley Act (SOX)
SOX is a common nickname for the Sarbanes-Oxley Act, which was signed into law by President Bush in 2002. It is also known as the Public Company Accounting Reform and Investor Protector Act of 2002. It was written in response to the many accounting fraud scandals of that time, such as Enron, Tyco International, and WorldCom.
The Act’s eleven titles spell out complex regulations that all public companies must adhere to in their accounting and taxpaying practices. It essentially requires companies to be as clear, accurate, and honest in their bookkeeping as possible. It also spells out the penalties companies can face if they are convicted of manipulating, destroying, or altering financial records in order to commit fraud.
Blowing the Whistle on SOX Violations
Unfortunately, simply passing a law is not enough to ensure that all businesses will be fair and honest with their stockholders. Enforcement of the Act relies on employees’ willingness to understand how their companies are being run and report any legal violations to the proper authorities.
If an employee is aware of any violation of the Act, he or she is required to report it to the Public Company Accounting Oversight Board (PCAOB). This is an agency created by the Act and charged with the task of enforcing the law. Anyone who makes a report in good faith to the PCAOB is legally protected from any form of retaliation from his or her employer.
If you are aware of an ethical violation occurring in your workplace, you may want to speak with an attorney right away. An Austin employment attorney would be able to help you file a complaint with the correct authorities while fighting to make sure your legal rights are protected.
To speak with an experienced Austin SOX whistleblower lawyer, contact the offices of The Melton Law Firm today at 512-330-0017.