Sarbanes-Oxley impact on SMB

While many small-business owners may think that the Sarbanes-Oxley Act applies only to large, multimillion-dollar enterprises, the act has very strong ramifications for all businesses, both small and large alike. The broad whistleblower provision of Sarbanes-Oxley can apply to any business, whether it is publicly traded or privately owned. Specifically, the Act:

-- Criminalizes any form of employer retaliation against whistleblowers.

-- Is broader than any prior regulations.

-- Makes violations punishable by fines and up to 10 years in prison.