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Home -> Community -> Mailing Lists -> Oracle-L -> RE: Oracle 911 Article/Sarbanes Oxley
Enron had an auditor. The auditor was part of the problem, and the auditing
firm is now "no more".
Sarbanes-Oxley adds teeth to existing law making it easier for regulators to seek criminal penalties against executives responsible for overly aggressive accounting.
-----Original Message-----
From: oracle-l-bounce_at_freelists.org
[mailto:oracle-l-bounce_at_freelists.org]On Behalf Of Nuno Souto
Sent: Monday, March 08, 2004 2:45 AM
To: oracle-l_at_freelists.org
Subject: Re: Oracle 911 Article/Sarbanes Oxley
Isn't that what accounting audits were invented for? Or is that not mandatory Stateside? Here, every public company has to explain why it doesn't need an audit. Small companies get away with it. Big ones blame IT.
Cheers
Nuno Souto
in sunny Sydney, Australia
dbvision_at_optusnet.com.au
----- Original Message -----
From: <Jared.Still_at_radisys.com>
> The Sarbanes-Oxley Act is not a fad.
>
> It is legislation enacted in the US in 2002 that requires public companies
> with capitalization of 75M+ to actually be able to ( gasp!) make an case
> for the accuracy of their financial records.
>
> There are provisions in SOA to send the CEO and/or CFO to prison
> should hanky panky with the books lead to a fleecing of investors.
>
> IT is very much involved with this.
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