RE: Sarbanes-Oxley / my opinion

[Al Mac <macwheel99@xxxxxxxxxxx>]

> 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