RE: Oracle 911 Article/Sarbanes Oxley
- From: "Powell, Mark D" <mark.powell@xxxxxxx>
- To: "'oracle-l@xxxxxxxxxxxxx'" <oracle-l@xxxxxxxxxxxxx>
- Date: Mon, 8 Mar 2004 10:15:36 -0500
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@xxxxxxxxxxxxx
[mailto:oracle-l-bounce@xxxxxxxxxxxxx]On Behalf Of Nuno Souto
Sent: Monday, March 08, 2004 2:45 AM
To: oracle-l@xxxxxxxxxxxxx
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@xxxxxxxxxxxxxxx
----- Original Message -----
From: <Jared.Still@xxxxxxxxxxx>
> 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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