http://www.deltennium.com/article_info.php?articles_id=4
SOX: The Good, the Bad and the Ugly By Gerald M. Czarnecki Chairman & CEO The Deltennium Group, Inc.
This article, details benefits and problematic outcomes of SOX. From an auditing standpoint the audit firms relationship with the audit committee is discussed. Negative points related to the inability to make decisions by board members, and excessive bureaucratic processes with the aim of covering self from liability are presented. In addition the point is made that PCAOB is impacting much more than accounting firms but also business is made, and comments are provided on changes at the SEC. These comments, from someone with a strong focus and interest in corporate governance are interesting. I found myself wondering how partners in the big CPA firms would react to the majority of comments.
SOX: The Good, the Bad and the Ugly By Gerald M. Czarnecki Chairman & CEO The Deltennium Group, Inc.
This article, details benefits and problematic outcomes of SOX. From an auditing standpoint the audit firms relationship with the audit committee is discussed. Negative points related to the inability to make decisions by board members, and excessive bureaucratic processes with the aim of covering self from liability are presented. In addition the point is made that PCAOB is impacting much more than accounting firms but also business is made, and comments are provided on changes at the SEC. These comments, from someone with a strong focus and interest in corporate governance are interesting. I found myself wondering how partners in the big CPA firms would react to the majority of comments.
