In other words, what would motivate these companies to spend to upgrade their systems for these compliances?
Private companies will need to comply with Sarbanes-Oxley requirements if they anticipate becoming a public company in the future — or being acquired by a public company. Sarbanes-Oxley requirements will also raise the bar for corporate compliance controls and governance among stakeholders of private companies.
How Sarbanes-Oxley will affect privately held companies?
2 Responses
Leave a Comment
February 11th, 2010 at 12:09 pm
It does not affect private companies. But a private company would be smart to have enuf internal controls to find out in advance if they are in danger of providing the IRS with incomplete or inconsistent data..
References :
February 11th, 2010 at 12:55 pm
Private companies will need to comply with Sarbanes-Oxley requirements if they anticipate becoming a public company in the future — or being acquired by a public company. Sarbanes-Oxley requirements will also raise the bar for corporate compliance controls and governance among stakeholders of private companies.
References :
http://www.thecomplianceauthority.com/