|
This section is of
course listed under Title III of the act, and pertains to
'Corporate Responsibility for Financial Reports'.
Summary of Section 302
Periodic statutory
financial reports are to include certifications that:
• The signing officers have reviewed the report.
•
The report does not contain any material untrue statements or
material omission or be considered misleading .
•
The financial statements and related information fairly present
the financial condition and the results in all material
respects.
•
The signing officers are responsible for internal controls and
have evaluated these internal controls within the previous
ninety days and have reported on their findings.
•
A list of all deficiencies in the internal controls and
information on any fraud that involves employees who are
involved with internal activities.
•
Any significant changes in internal controls or related factors
that could have a negative impact on the internal controls.
Organizations may not
attempt to avoid these requirements by reincorporating their
activities or transferring their activities outside of the
United States. |