Bah, Lay never had to deal with SOX. He never had to answer for a single thing he did. In fact, the Creator is probably going to give him a break on his Final Judgement.
When I worked for a biotech company, I had the double whammy of SOX and FDA regulations (and lots and lots of controlled systems). It's enough to make a girl cry.
I dislike SOX as well, but what I hate more than SOX is PWC audits. the SOX auditors that we have in all the time for our accounting group are nice and dont hound us for crap. but the PWC auditors... grrrr.
Sorry, I forgot that comments can't have cut text..
Wiki on SOX (http://en.wikipedia.org/wiki/Sarbanes-Oxley_Act) 423-3 (http://clerk.house.gov/evs/2002/roll348.xml) in the House (Oxley), 522-3 (1 abstain) if you include Senate votes(Sarbanes).
[insert political rant here], and I raise a glass to ya.
Hey, SOX isn't exactly a walk in the park for us accounting guys, either.
It was a knee-jerk reaction to Enron, made so the SEC wouldn't be forced to take direct control of the accounting regulations, something that they have neither the time nor the money to do (the FASB does it at present).
Not that any of the above makes it any less of a pain in the ass.
no subject
Date: 2007-11-06 04:51 pm (UTC)no subject
Date: 2007-11-06 04:56 pm (UTC)no subject
Date: 2007-11-06 04:57 pm (UTC)no subject
Date: 2007-11-06 04:59 pm (UTC)no subject
Date: 2007-11-06 05:09 pm (UTC)no subject
Date: 2007-11-06 05:18 pm (UTC)no subject
Date: 2007-11-06 05:21 pm (UTC)no subject
Date: 2007-11-06 05:40 pm (UTC)So, go on, for us English peeps, just how does it make your life a nightmare?
no subject
Date: 2007-11-06 06:33 pm (UTC)no subject
Date: 2007-11-06 06:42 pm (UTC)Like ISO9001, but you've got to make a bunch of auditors happy at the end so they ask sooo much more crap.
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Date: 2007-11-06 06:49 pm (UTC)no subject
Date: 2007-11-06 06:50 pm (UTC)no subject
Date: 2007-11-06 07:26 pm (UTC)no subject
Date: 2007-11-06 07:32 pm (UTC)Re: yeah, I'm gonna need you to come in tomorrow...
Date: 2007-11-06 08:48 pm (UTC)Wiki on SOX (http://en.wikipedia.org/wiki/Sarbanes-Oxley_Act)
423-3 (http://clerk.house.gov/evs/2002/roll348.xml) in the House (Oxley), 522-3 (1 abstain) if you include Senate votes(Sarbanes).
[insert political rant here], and I raise a glass to ya.
no subject
Date: 2007-11-06 09:36 pm (UTC)no subject
Date: 2007-11-07 12:20 am (UTC)no subject
Date: 2007-11-07 12:46 am (UTC)no subject
Date: 2007-11-07 02:01 am (UTC)It was a knee-jerk reaction to Enron, made so the SEC wouldn't be forced to take direct control of the accounting regulations, something that they have neither the time nor the money to do (the FASB does it at present).
Not that any of the above makes it any less of a pain in the ass.
no subject
Date: 2007-11-07 04:52 am (UTC)that is all.
no subject
Date: 2007-11-07 01:16 pm (UTC)>_<
It burns with the fire of a thousand hemorrhoids.