|
Author: John Parsons Article source: http://www.corporatenarc.com/. Used with author's permission.
The Sarbanes-Oxley Act Was created on July 30th 2002, by Senator Paul Sarbanes and Representative Michael Oxley, who drafted the bill. It followed a series of high profile scandals. Its objective is to protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities laws.
The Sarbanes-Oxley Act is mandatory every organization small and large must comply.
Sarbanes-Oxley is a direct result of Enron, WorldCom and various other accounting scandals of the 1990's.
In essence, Sarbanes-Oxley gives corporate boards far less flexibility than they once had while simultaneously leaving executives with far fewer reasons to want to be a board member. If you are a successful executive late in your career, the benefits of lending your considerable expertise as a board member no longer outweigh the risks to your net worth.
Without a doubt, the intent of Sarbanes-Oxley is admirable, and sorely needed. However, the practical functioning of this legislation leaves much to be desired.
In far too many companies, the board of directors consists of "yes" men and woman who parrot the will of the Chairman and CEO. Most board members have been in their positions for considerable periods of time, and forums do not exist that encourage both an active participation in the business matters of the firm and the investigation and questioning of critical risk management processes.
The Sarbanes-Oxley Act is split in to a number of sections each highlighting the different rules and regulations each organization must implement. John Parsons is founder of http://CorporateNarc.Com™. The mission of http://www.CorporateNarc.Com™ is to educate the public in consumer affairs and to provide consumers with up-to-date business information. In addition we hope to ensure better services for the consumer by exposing business fraud and corruption, as well as unfair and deceptive business practices.
This article my be reproduced as long as the author's name and url to http://www.Corporatenarc.com are present at the end of the article.
Escape into Reality and Find Love
People talk about escaping from reality when times get tough, but how about turning that around? Why not "escape into reality" instead? By escaping into reality...
Las Vegas - World Series of Poker (WSOP)
Who Will Be The Top Dog at WSOP?
The Risk Of Electronic Fraud & Identity Theft
Human beings are pretty sensible when presented with an imminent threat or risk. That is, if it's staring us directly in the face. Many threats and risk are pre...
Network Marketing - Its All About Customers
Leadership, Visualization, Goal-setting, blah, blah...
Fast Weight Loss Secret Revealed – Move it or Lose it!
If you are on the fence of whether or not to start an exercise and weight loss plan, I suggest you either become hot or cold. None of this luke warm stuff. You,...
The Delicate Art of Balancing The Budget
Government budgets represent between 25% and 50% of he Gross Domestic Product (GDP), depending on the country. The members of the European Union (Germany, Franc...
Why You Need To Buy and Sell Gold Coins (Part 2)
Man has treasured Gold and Silver for it's rarity, beauty, and value for more than 5,000 years. Emperors, Kings, Sultans, and Sheiks valued Gold and Silver as t...
Create a Seasonal Wreath
Make a wreath for your home or office, or send one as a gift to leave your crafty impression in the lives of others.
How to Buy to Let
Find out everything you need to know about buy to let. Learn what to buy, where to buy and what not to buy. All this information about buy to let won't cost you...
Quality Hiring: Are You Doing It Right?
Quality hiring is more than running ads, screening, interviewing and checking references. It is a series of specific procedures that can bring in top candidate...
The Anti Oxidant Properties of Milk Thistle
This article talks about the anti oxidant values of Milk Thistle.
Can Eating Certain Foods Help You to Lose Weight?
"They found that those who ate foods that were very low in fat and high in carbohydrates, lost weight steadily, without limiting how much they ate. But those on...
Goal Setting and Goal Getting: Excuse, Accuse, Refuse
Because of our well developed ability to rationalize (pronounced "rational - lies"), we can find an excuse for anything. Simply put, when it comes to achievin...
True Culprits of High Cholesterol
Two of the most common causes of high cholesterol - tap water and homogenized milk -- are not what most people would expect. Learn what exacerbates high choles...
Internet Article Writing
Most Article sites, which take on submissions, have a minimum number of words required in each article. Some require 350 plus words per article that is unfortun...
Online Sales: 10 Heavy Duty Tactics To Sky-Rocket Your Online Sales
Here are the 10 heavy duty online sales tactics that
have helped me to sky rocket my sales:
Interior Design For Children
Interior design for children is one of the most fun, delightful aspects of the business if you ask me. It is so fun because children are limitless as far as the...
Haves and Have Nots Debate on Capitalism
Some have said that the haves and have nots, disparity will lead to dissension, rebellion and death. And they point out that capitalism when introduced into an ...
You Can Do Exercise During Pregnancy, but Dont Overdo It
Don't get so lazy during your pregnancy. Move your body if you want to delivery your baby easily, do some exercise! Some studies show that women who exercise du...
Intimacy, What is It Really?
An article that delves into the true meaning of intimacy in marriage. It exposes the real barriers couples face and offers suggestions for making married life m...
Empathy - Not Business Plans - Key to Your Home Based Business Success - Do You Have Empathy?
Your Natural Talent is your most important asset. Business plans, cash flow projections, competitive analysis, etc. are needed, but these skills can be learne...
What Vitamin Supplement is Best for Gastric Bypass Patients
In the choice rich world of vitamin supplements it's easy to get lost. Gastric bypass patients are at risk of nutritional deficiency if they do not take vitamin...
Does Your Dog Have a Barking Problem? Ask Your Neighbor, They Will Tell You!
Have you tossed and turned in bed at night because the sound of a barking dog is keeping you awake? How about the dog that barks off and on throughout the night...
How To Handle No-Show Joint Venture Partners
"No-show" is the polite term for joint venture partners who make empty promises. Ever come across them? They are the all-talk-and-no-action types who seem to ...
|
Print this page