Terminated after giving notice siting Sarbanes-Oxley 1242
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I must admit I had not heard of the Sarbanes-Oxley Act until today. I am a commissioned sales rep and I gave my employer notice today of my intention to leave at the end of the month. They got back to me and said that I was terminated as of today and sited Sarbanes-Oxley. Can someone explain how this act pertains to this action.
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There is nothing in the Sarbanes-Oxley Act which would require them to take such a course of action. Ask them to cite the specific regulation.
Sounds like they are trying to get out of paying out your notice period.
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Hmm… quite a creative approach. What’s next? Companies will start referring to Daimler-Chrysler and Newton’s Laws when laying off people?..
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It is not the first time I hear that somebody is fired ‘for Sarbanes Oxley reasons’. Working as a litigation consultant and subject matter expert, I have also discussed it with auditors and lawyers.
There is a strange interpretation of COSO behind that :roll:
COSO, Control Environment
5 components of internal controls- Control Environment
- Risk Assessment
- Control Activities
- Information and Communication
- Monitoring
- Control Environment
There are ‘temptations’ 8O
Insignificant or unpublicized penalties for improper behavior - no deterrent controls
Risk: Dishonest, illegal or unethical acts simply because the organizations give temptations to do so.
Control: Advertise penalties. For Sarbanes Oxley reasons. Period.
After that, auditors will like your control environment and they will perform fewer tests, because you are serious. 8O :roll:
You don’t believe it? It was difficult for me to believe something like that the first time… but it is true. And there are some consultants behind that. :oops:
I DO NOT AGREE WITH THIS KIND OF MISLEADING BEHAVIOUR (Don’t kill the messanger)