Well that makes two of us! In a recent article on CFO.com, retired Congressman Michael Oxley expresses his displeasure with the Sarbanes-Oxley legislation, and blames it on the Public Company Accounting Oversight Board (PCAOB). Section 404 of the Sarbanes-Oxley Act of 2002 is the part that causes the most heartburn …
The Securities and Exchange Commission voted in favor of four staff recommendations to work with the Public Company Accounting Oversight Board (PCAOB) to help change Sarbanes-Oxley. Currently, Sarbanes-Oxley requires companies to monitor and test internal controls over financial reporting. (Notice I didn’t say the company actually has to have good …
Say it fast five times: Sarbanes-Oxley, Sarbanes-Oxley, Sarbanes-Oxley, Sarbanes-Oxley, Sarbanes-Oxley… If you’re like me, you’re sick of hearing these words. Lots of people, however, don’t have the first idea what the Sarbanes-Oxley Act of 2002 is really about. I think the public-at-large thinks it’s legislation that stops fraud. That couldn’t …
The New Yorker recently printed a commentary on Sarbanes-Oxley. While the legislation was viewed by politicians as an important step toward protecting investors from fraud, corporate executives aren’t so impressed. Corporate executives believe that the high cost of implementing the Sarbanes-Oxley regulations is not justified by the small benefits. The …
