Sarbanes-Oxley - worth the costs?

[TheAnvil 0]

OK. Whaddaya think on this? We all know the costs of implementation have been greater than expected and particularly hard on some of the smaller businesses affected. I believe section 404 in particular is the bastard-love-child.

Any thoughts on this? Good for America? Bad for America?

Just wondering. The odd and quite tired Vinny mind at work.

beers to all,

Vinny the Anvil
Post Traumatic Didn't Make The Lakers Syndrome is REAL
JACKASS POWER!!!!!!

[beowulf 1]

It is a colassal waste of time and money. It doesn't accomplish anything that it set out to do.

[bob.dino 1]

The basic premise was quite decent. I've not been involved in any compliance-related work, so I'm not sure how useful or otherwise it is.

[idlewild70 0]

I spend about 30 hours a month not ddoing my normal job because of the new sox laws.

-Fish


Blue skies, Soft landings

[PhreeZone 20]

SOX auditing was 90% of my last job at the end. I'm of the opinion its creating needless paperwork just for the sake of doing it in a lot of industiries. Banking and Insurance are two notable exceptions.

Yesterday is history
And tomorrow is a mystery

Parachutemanuals.com

[TheAnvil 0]

Interesting. I sort of expected more responses. Oh well. I'm a bit anti SOX right now. I think the requirements are arduous & costly with not much gain.

Thanks to those who responded.

Vinny

Vinny the Anvil
Post Traumatic Didn't Make The Lakers Syndrome is REAL
JACKASS POWER!!!!!!

[TheBachelor 5]

For me, it's created more controls, paperwork, and endless MEETINGS. We're still going through the audits, but I can see the bottom line for me: A bunch of new procedures that make my job much more difficult to do while securing little or nothing.

If someone REALLY wants to, they can get around most of these controls without detection. Meanwhile we waste a lot of time and money on audits, etc.

There are battered women? I've been eating 'em plain all of these years...

[markd_nscr986 0]

"SOX" reporting is a complete and total waste of time

Just my 2 cents worth

Marc SCR 6046 SCS 3004

[boudy 0]

You might want to check out my favorite former law prof's blog - ProfessorBainbridge.com. He currrently teaches corporate/bus law at UCLA and has written extensively about Sox. I took a couple of his classes at Illinois.

He is a devout Conservative and an extremely fair minded on most matters.
(although from my left-center view often misguided).

Anyway lots of posts, links and analysis there concerning Sox and other Corp/bus law matters, politics, fast cars, religion and dogs.

[Jayruss 0]

I think its great, its doubled the fees of your local cpa

__________________________________________________
"Beware how you take away hope from another human being."
-Oliver Wendell Holmes