And are large technology companies lobbying to NOT repeal SOX in order to continue profiting from selling compliance software specific to SOX?
http://www.cato.org/pub_display.php?pub_id=6624
http://www.marketwatch.com/news/story/its-time-repeal-sarbanes-oxley/story.aspx?guid=%7B5EA568D5-6DE9-4AB8-AF93-7FD86647A8CB%7D
I never realized hat SO hurts small businesses considering that it was designed for publicly traded companies, or at least SEC monitored companies??? Hm…
In short, SO is a world of hurt for every public company involved, but lack of confidence of balance sheets is ultimately was caused this issue…. Until time where the marketplace is able to put in procedures that allow it to effectively police itself, SO will remain no matter what president there is…
April 17th, 2010 at 4:12 am
I never realized hat SO hurts small businesses considering that it was designed for publicly traded companies, or at least SEC monitored companies??? Hm…
In short, SO is a world of hurt for every public company involved, but lack of confidence of balance sheets is ultimately was caused this issue…. Until time where the marketplace is able to put in procedures that allow it to effectively police itself, SO will remain no matter what president there is…
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April 17th, 2010 at 4:41 am
Probably Hillary would be the one to focus on small companies and businesses. Obama only cares about the big ones who give him money for his campaign.
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April 17th, 2010 at 4:57 am
RON PAUL is the "Only" Presidential candidate to address this issue:
http://www.house.gov/paul/press/press2005/pr041405.htm
I just can’t understand why more voters don’t support Dr. Paul more @ the primary voting booths.
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April 17th, 2010 at 5:47 am
As an accountant this is b.s.
SO is for publicly traded companies only. It does not effect mom and pop. Read section 404
As far as compliance software is concerned none is really needed. CEO’s simply sign off on the financials saying they read, understand and agree with them.
Sarbanes-Oxley is in place so CEO’s and such can’t pull the
"I don’t know, can’t remember, wasn’t aware" Enron, American Airlines and Worldcom crap so many have pulled before. Look at corporate bankruptcies. They were usually always preceded by the lack of cash needed to make a bond or some payment. Commonsense dictates that if you claim you made some phenomenal profit than where’s the money?
So as a CEO you have 2 options:
You’re lying or incredibly stupid. Well you wouldn’t be CEO if you were stupid.
McCain would be likely to try to repeal it. I’m surprised Bush didn’t try.
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