Since the passage of the much-hailed (and cursed) Sarbanes-Oxley Act of 2002 (Sarbox), many publicly traded companies have restructured their boards, revised their financial recording and accounting practices and updated their codes of ethics. Many people have asked whether privately held companies and non-profits should be subject to the same requirements now imposed upon public companies. Are t......Full article >>>
hannels, such as courts, state laws, insurance carriers, shareholders, and some public corporations. These trickle-down provisions are really the meat of Sarbox. They include the following:
contains numerous requirements designed to ensure the independence of a companys auditors
covers rules pertaining to audit committees, certification of fi......Full article >>>
quire companies to have appropriate board of directors composition or financial and accounting policies and procedures in place (or alternatively, charge higher prices to companies that dont).
4. Investors and Acquirers.
Investors (and in some contexts, even purchasers or vendors) may require that privately held companies adopt many of the Sarbanes-Oxley safeguards. Also, acquire......Full article >>>
contexts, have been mandated. Information systems are in many contexts the conduit that captures the data and brings it to the forefront. It is the critical medium that can either make or break a company in terms of both the spirit and the letter-of-the-law of Sarbanes-Oxley. We will take a deeper look at these relationships both in the private and public company contexts next month.
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Source:wistechnology.com By Matthew Storms and Ronald Kral, MBA, CPA 12/15/03Related biology technology :1
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