In this lesson, Nick Palazzolo, CPA, makes sense of the severe penalties associated with the Sarbanes-Oxley Act of 2002. With a touch of humor to lighten the subject, Nick delves into the significant prison sentences and fines imposed for various infractions, such as document forgery and failure to retain audit work papers for the mandated seven years. He also explains the statute of limitations for securities fraud, reinforcing the importance of remembering key timelines for compliance. Through Nick's guidance, grasping these legalities becomes a less daunting, more memorable task.