Author(s): Francie Ostrower, Marla J. Bobowick
Other Availability: PDF | Order Online | Printer-Friendly Page
Posted to Web: September 19, 2006
Permanent Link: http://www.urban.org/url.cfm?ID=311363
The nonpartisan Urban Institute publishes studies, reports, and books on timely topics worthy of public consideration. The views expressed are those of the authors and should not be attributed to the Urban Institute, its trustees, or its funders.
Note: This report is available in its entirety in the Portable Document Format (PDF).
The text below is a portion of the complete document.
The Sarbanes-Oxley Act, passed in 2002 following widely publicized governance scandals at corporations such as Enron, was intended to deter fraud in publicly traded corporations. The Act extended boards' financial oversight responsibilities and imposed new financial disclosure requirements. Only two of these provisions applied to nonprofits. Its passage nonetheless quickly sparked discussions about nonprofit accountability and whether nonprofits should adhere to certain provisions of the Act, either on a voluntary or mandatory basis.1"