RE: Sarbanes-Oxley / my opinion

["Condon, Mike" <M1C@xxxxxxxxxxxxxxxxx>]

>1. What is SOX intended to prevent?
Yes, but what root causes?
>3. What are the new methods of circumventing it?
I'm sure they're working on this right now. 

-----Original Message-----
From: midrange-l-bounces@xxxxxxxxxxxx
[mailto:midrange-l-bounces@xxxxxxxxxxxx] On Behalf Of Al Mac
Sent: Tuesday, April 04, 2006 3:06 PM
To: Midrange Systems Technical Discussion
Subject: RE: Sarbanes-Oxley / my opinion



>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