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I suppose my three immediate questions would be: 1. What is SOX intended to prevent?
Another scandal like the ENRON, WORLDCOM, Arthur Andersen, Imclone, Tyco, Martha Stewart, etal debacle, which is still winding its way through the court system.
If you not know what I referring to, here is the big picture. http://www.wallstreetfollies.com/diagrams.htm
2. How effective is it at actually enforcing what it's intended to prevent?
This is far too soon to know. At the moment it is a boondoggle for unreal vendors selling their services to companies that need to do something about SOX.
3. What are the new methods of circumventing it?
Have the company buy up all stock in the company from investors, and stop being a public company. Be very careful about owners from outside the nation.
Also remember that the government audits companies that SAY they are in trouble. The Bank of Crooks and Criminals International got away with murder for so long because they LIED on their paperwork to the government. Learn from that.
- Al Macintyre http://en.wikipedia.org/wiki/User:AlMac http://www.ryze.com/go/Al9Mac BPCS/400 Computer Janitor ... see http://radio.weblogs.com/0107846/stories/2002/11/08/bpcsDocSources.html
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