In layman’s english, what exactly is the Sarbanes-Oxley act, and how is it different from the way companies used to do business?
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December 4th, 2009 at 7:24 am
Sarbanes-Oxley lays on a layer of disclosure that common sense would have assumed was always there. Corporate executives now have to sign a statement attesting to the accuracy of the financial statements among many other things. I think that a cheat and a liar is not going to be deterred by this, but maybe it will cut down on some of the lies.
Small companies will find the additional fees from compliance due to the CPA’s and attorneys to be a burden to the company. Many small companies have decided to go private or delist and trade on the pink sheets (pinksheets.com) to avoid the added costs and disclosures.
If you own some of the small company stock you could be hurt by the lack of liquidity. If you own the larger companies you might benefit from added transparancy to the company finances.
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December 4th, 2009 at 8:03 am
It appears that the question period has expired. If you have received an answer that meets your needs, please choose one of those as a ‘best answer.’ If you haven’t received a good answer for your question, you may want to consider the following,
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If it doesn’t seem likely that re-posting your question will help you, then here’s a listing of my favorite ‘answer sites’. Maybe one of them will help you.
Answers.com http://www.answers.com/
Bartleby http://www.bartleby.com/
Yahoo Reference http://education.yahoo.com/reference/
HowStuffWorks http://www.howstuffworks.com/
Wikipedia http://en.wikipedia.org/wiki/Main_Page
Since I really haven’t answered your question, it is not necessary to give me any points. Regards.
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