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Has it worked? I'm not supporting any opposition to SOX, however we all know of many processes that offer no real checks or value, but we have to do it...just b
by personZ 12y ago
Has it worked? I'm not supporting any opposition to SOX, however we all know of many processes that offer no real checks or value, but we have to do it...just because why not, you're getting paid for it. In the case of SOX and the like, the argument can be "well everyone else has to do the same illusion of control work, so the drag is similar".
Most businesses are filled with processes that everyone knows are done for absolutely no value to anyone, but we do them anyways and they absolutely sap our soul.
- crdoconnor 12y agoUnfortunately it's not enforced. Obama could slam half of the CEOs of Wall Street in jail with Sarbanes Oxley violations for wilfully looting their own firms exactly as was done to Enron, but he made an executive decision not to (a quick glance at who pays Clinton's $500,000 post presidential speaking fees might give a hint as to why). Unfortunately the lack of any real enforcement means that it hasn't been all that successful. That doesn't mean it's a bad law.