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Political Dogs: Sarbanes Oxley Balancing Act

Political Dogs: Sarbanes Oxley Balancing Act

by Rick Turoczy on February 18, 2005

Right now is the height of “earnings season” as the trickle of a few super-efficient companies issuing earnings turns into a torrent of reports. This is perhaps the most interesting year in many decades for corporate earnings as the Sarbanes-Oxley Act (SOX) makes auditors double their efforts in scrutinizing their public clients. One of the most significant parts of SOX is a requirement that public companies review and fully document their systems of internal controls. Auditing companies are required to review this documentation and opine as to the sufficiency of the control environment. For many companies this meant huge expenses in terms of time and even money to create documentation for systems that were supposed to exist all along as well as larger audit fees to test these systems. Along with this review and audit comes the specter of disclosing certain aggressive practices that might have avoided the auditors’ scrutiny in years past.

Political Dogs: Sarbanes Oxley Balancing Act

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