1-6 Sarbanes-Oxley Act Compliance

The Sarbanes-Oxley (SOX) Act of 2002 grew out of large corporate financial scandals. SOX aims to improve corporate governance and enhance the accuracy of financial reporting. SOX was one of the most significant changes to federal securities laws in more than 70 years, holding companies to higher standards of financial reporting, disclosure, and internal auditing. The law mandates good business practices and emphasizes responsibility throughout the Postal Service for adhering to policies and procedures that reinforce public trust.

The Postal Accountability and Enhancement Act of 2006 required the Postal Service to comply with Section 404 of SOX by September 30, 2010. SOX is a great way to make our business stronger. The benefits of SOX compliance include the following:

1. Reinforces the public’s trust in the Postal Service.
2. Strengthens our financial integrity and accountability to our financial reporting.
3. Standardizes processes and systems, reducing costs.
4. Refines the way we perform financial process activities.

Everyone involved with drop shipments has a role with SOX compliance. Postal Service employees are responsible for following policies and procedures to execute internal controls as designed. Adherence to good business practices supports SOX compliance.