Sarbanes-Oxley And Employee Parking 2377

  • Can somebody please direct me to the Sarbanes Oxley Act section that may be related to employee parking?
    This did not make much sense in a company memo that dictates it is part of their compliance. Might it fall under the ‘security’ section or are they using Sarbanes Oxley to shun responsibility?
    Thank you in advance…

  • Hi and welcome to the forums 🙂
    Employee parking rules are outside the direct scope of SOX controls. SOX is are designed to address material financial risks. These statutory guidelines are broad, nebulus and subject to interpretation.
    As a company designs security or financial controls, they can certain ascribe it to SOX (whether it truly fits under the SOX umbrella or not). In the forums, we’ve often seen many controls done in the ‘name of SOX’ that are not truly part of the official regulations.
    Certainly, a company can make parking rules that might keep folks from parking in sensitive areas (e.g., loading zones where money might be transferred by courriers to banks, etc), but I’ve never seen these branded as SOX related.
    This is one of the better write-ups on SOX that you can cut/paste to your browser:

  • Thanks for the response, I really appreciate it.

  • I got a chuckle out of this question. We have heard of SOX being blamed for many things, but this is the best so far. We really need to start a ‘best of the worst of SOX’ list. This would be very near the top.

  • Me as well. This has to rank up there with the funniest ‘done in the name of sox’ things that I’ve heard.
    Harry - a brave attempt to rationalise some logic into it but that’s really stretching things 😉

  • Hi Denis - Indeed, as maybe I was trying to think outside the box for relevancy 🙂 … As both you and kymike note, maybe we need to create a ‘Sarbanes Oxley Hall of Shame’ for companies that are stretching the guidelines beyond what the regulations intended 😉 😄

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