Some items on the Sarbanes-Oxley compliance checklist are questions that ask if an organization's board members are familiar with the purpose and structure of the Sarbanes-Oxley Act, the need for a corporate governance framework and the need to comply with corporate governance policies. Other items on the list are questions that ask if board members are financially literate and understanding of their organization's risk and issues, as well as if they are aware of the mandatory internal audit that many public companies undergo, according to the Sarbanes-Oxley Compliance Toolkit.
Other items found on the Sarbanes-Oxley compliance checklist are questions about the coordination of internal and external audit activities to ensure there are no duplications or omissions. Board members are also asked if they are aware of their responsibilities when it comes to meeting requirements as passed by current regulations and legislation and of the penalties that could occur if board members do not act in accordance with those requirements as specified by the Sarbanes-Oxley Act.
More items on the list are questions directed specifically to the corporate governance committee. One checklist item asks if board members are aware of the important of having separate committees to manage corporate governance issues, according to the Sarbanes-Oxley Compliance Toolkit.