Selected sections of the Sarbanes-Oxley Act follow:

Section 1. Short title. This Act may be cited as the "Sarbanes-Oxley Act of 2002" TITLE I-Public Company Accounting Oversight Board

Sec.101. Establishment; Administrative Provisions

Establishment of Board-There is established the Public Company Accounting Oversight Board, to oversee the audit of public companies that are subject to the securities laws, and related matters, in order to protect the interests of investors and further the public interest in the preparation of informative, accurate, and independent audit reports for companies the securities of which are sold to, and held by and for, public investors. The Board shall be a body corporate, operate as a nonprofit corporation, and have succession until dissolved by an Act of Congress.

(a) Duties of the Board-The Board shall, subject to action by the Commission under section 107, and once a determination is made by the Commission under subsection (d) of this section-

(1) register public accounting firms that prepare audit reports for issuers, in accordance with section 102;

(2) establish or adopt, or both, by rule, auditing, quality control, ethics, independence, and other standards relating to the preparation of audit reports for issuers, in accordance with section 103;