 BLOGGER: Lora Bentley E-mail Lora - Lora is an attorney and journalist who covers regulatory and legislative issues for IT Business Edge’s Managing Compliance Standards weekly report. |
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Not everyone thinks the Sarbanes-Oxley Act of 2002 is the worst thing to happen to corporate America. Just ask the shareholders of New York-based retailer Syms. At the end of 2007, company leaders applied to delist its shares from the New York Stock Exchange. They did so in order to save some $750,000 in costs associated with Securities and Exchange Commission reporting and Sarbanes-Oxley compliance. Well, shareholders didn’t think it was a good thing at all, and they immediately began to protest — vigorously, media reports say. If the company went private, they would no longer have assurance that the company was protecting their interests; nor would they have regular and easy access to financial information from which to make informed decisions about their investments. So, in February, the company caved to the pressure, re-registered with the SEC and listed its shares on the Nasdaq. READ MORE |
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Just as with the Y2K crisis of seven years ago, IT workers are being
called upon to don superhero suits and save the enterprise from
impending technology trouble. But this time, IT will be sifting through
the complexities of the federal Sarbanes-Oxley Act of 2002
Will your SMB be Ready?
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March 20th, 2008
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on Thursday, March 20th, 2008 at 12:42 pm and is filed under Sarbanes Oxley.
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