Re: Sarbanes & Oxley

[Shadrach Scott <shadrachscott@xxxxxxxxxxxxx>]

You might want to start doing a little research.

When you have to be SOX compliant has to do with your fiscal year. If 
you are on a calendar year, you need to be done before Jan 1. You 
actually need to be done in time to complete your audits before Jan 1.

SOX only affects you if you are publicly traded, it will be enforced by 
the SEC. If you fail your auditor will have to publish a nasty letter to 
your share holders. If you are found to be in bad enough shape the SEC 
may also fine you, (nobody now how much) if you are in extremly bad 
shape the SEC could  stop your company from trading.

Have fun, You can find a lot of information at ISACA.ORG

Shadrach Scott

Doug Hart wrote:

> Does anyone know if there is a date when companies must be SOX compliant?
>
> Also, what are the penalties, if any, for non-compliance?
>
> Our auditors are driving us nuts.  I'd love to put them off until next
> Spring, or just pay the fines like you can do with OSHA if they are not to
> expensive.
>
> ---
> Doug Hart
>
>
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