SuXX 471

  • Sarbanes-Oxley: an industry created from nothing that creates nothing.
    Except perhaps, frustration, bureaucracy and petty, nick-picking auditor mindsets.

  • My guess is that your company didn’t have good enough internal controls before you started the project, thus is gonna fail because you have to reinvent the wheel?

  • No, it is not just frustration and trouble. Do not forget what has happened:
    Enron, Arthur Anderson, WorldCom became well known brand names for all the wrong reasons.
    C level executives arrested, became common TV news fare.
    Document destruction, misleading financial statements, employees losing their retirement funds, CEO misconduct
    Corporate scandals arising frequently
    Market confidence falling
    Purpose of restoring investor confidence after public clamoring for corrective action.

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