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What is the Sarbanes Oxley Law and how does it pertain in this situation?What happened and why might this have occurred?

Duties and Responsibilities

The IRS has handed notice to your home health agency that over $600,000 of back payroll taxes are due. This is a surprise to Board Members and they are asking for an explanation.

1. The Board is responsible for selecting the CEO . As such what legal obligation do they have in this regard ?

2. Monthly financial reports have been given to the Board by the CEO and prepared by the Finance Director. What happened and why might this have occurred?

3. The IRS is asking for a payment plan or they will attach a lean on organization assets and those of the CEO, Finance Director and Board Members. Can they do this?

4. What is the Sarbanes Oxley Law and how does it pertain in this situation?

Provide a one page summary

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