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New Corporate Reform Act



New Corporate-Reform Act Impacts Records Management Professionals

On July 30, 2002, President Bush signed into law the Public Company
Accounting Reform and Investor Act of 2002. The new law establishes harsh
penalties for wrongdoing by not only accountants and corporate officers, but
also for anyone "who corruptly alters, destroys, mutilates, or conceals a
record, document, or other object, or attempts to do so, with the intent to
impair the object's integrity or availability for use in an official
proceeding" or "otherwise obstructs, influences, or impedes any official
proceeding, or attempts to do so."

As a records and information management professional, it is imperative that
you understand the implications of this new law -- not only for you and your
department, but also for your entire organization.  A full summary of the
law can be found at http://www.arma.org/news/08_06_2002.cfm

This summary was developed through the joint efforts of ARMA International's
GRECO committee and Smith, Bucklin and Associates of Washington, D.C.,
ARMA's government affairs consulting firm. An in-depth educational session
will be presented at the ARMA International Conference and Expo in New
Orleans September 29-October 1, 2002, on the Corporate Reform Act and the
dramatic changes it will bring to the records and information management
profession.  The session will be given by Rae Cogar, Chair of the GRECO
committee, and Frank Moore from Smith, Bucklin and Associates.

Susan E. Fox, CAE
Executive Director
Society of American Archivists
527 S. Wells St., 5th Floor
Chicago, IL  60607
312-922-0140
Fax 312-347-1452
sfox@archivists.org
www.archivists.org


The Society of American Archivists serves the educational and informational
needs of its members and provides leadership to help ensure the
identification, preservation, and use of the nation's historic record.

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