The Sarbanes-Oxley Act and the reputation of the USA?

13 Oct, 2008  Reputation Management

Comments

6 Responses to “The Sarbanes-Oxley Act and the reputation of the USA?”

  1. bush-deathgrip on October 15th, 2008 11:16 pm
    rupert murdoch just purchased the wall street journal…..lmfao…….the end for of us is near
  2. Mr. Magoo on October 16th, 2008 1:54 pm
    Nobody cares about corporate accounting in the US in terms of establishing a national reputation. Everybody cares about the disaster in Iraq – that’s what has ruined our international reputation.
  3. Dogsnoop on October 16th, 2008 10:42 pm
    Liberty, once lost, is lost forever.
  4. Barry auh2o on October 18th, 2008 3:45 pm
    Without a doubt, excellent example of what our congress is SUPPOSED to do.
    One was a Dem, the other, a Rep, but they placed the needs of the country above petty, partisan politics and came up with a wonderful solution to a problem ..
    See, it CAN be done!
  5. Hi on October 21st, 2008 8:04 am
    I don’t think so,

    “The process of complying with the legislation largely involves the documentation of procedures used within companies. However, improvements to internal controls weren’t mandated, so some companies made no enhancements to their control procedures.

    The work mandated by such regulations has really created a paperwork exercise for companies. They have reams and reams of paper that document what and how the company does in regards to financial data and operations.

    Yet that documentation itself doesn’t prevent fraud.

    So if the regulations haven’t been effective in preventing fraud, then what was the point? I think, in many respects, Sarbanes-Oxley was feel-good legislation.”

  6. villanova_olga on October 23rd, 2008 7:24 am
    If humans are left unchecked they will act to get the best advantage. That is what makes a competitive economy so efficient. It also makes for huge distortions against an unsuspected public in some areas where the seller’s actions are too difficult for the public to evaluate. That is where governmental action is appropriate. Sarbanes became necessary when self policing by corporations and accounting firms proved insufficient to protect investors. It thus protected the stock markets as well.

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