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Thread: Sox

  1. #1
    Master-Jedi-Pimps0r & Moderator thehorse13's Avatar
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    Sox

    This is not a surprise but interesting to see that someone recognizes the issue.

    http://www.foxnews.com/story/0,2933,196044,00.html
    Our scars have the power to remind us that our past was real. -- Hannibal Lecter.
    Talent is God given. Be humble. Fame is man-given. Be grateful. Conceit is self-given. Be careful. -- John Wooden

  2. #2
    Super Moderator: GMT Zone nihil's Avatar
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    Interesting,

    We have our "data protection act" but there is no requirement for an independent external audit of compliance AFAIK.

    Fail, and you are history, but that is about it.

    I have an idea..........................all CPA firms have to do "x" number of audits based on their number of partners. Naturally, as all CPAs love and believe in the law, they will do this for a nominal $100 fee.............. if they do not fulfill their quota then they cannot practice as CPAs??????????????

    Sounds reasonable to me

    "Hell hath no fury like a beancounter who discovered IT"

    Muhahahahahahahahaha
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    As long as you did this to one of these, the least of my little ones............you did it unto Me.
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  3. #3
    Senior Member genXer's Avatar
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    OMG - weird - I was just discussing this last night before a local DFL meeting with a local politician! The costs alone in our organization is more than some companies make in a year - not bragging - complaining! We need this type of legislation, but something that won't kill businesses either just to comply.

    Even weirder - FOX News posted something I actually agree with and it's news!
    \"We\'re the middle children of history.... no purpose or place. We have no Great War, no Great Depression. Our great war is a spiritual war. Our great depression is our lives. We\'ve all been raised by television to believe that one day we\'ll all be millionaires and movie gods and rock stars -- but we won\'t. And we\'re learning slowly that fact. And we\'re very, very pissed off.\" - Tyler (Brad Pitt) Fight Club.

  4. #4
    Master-Jedi-Pimps0r & Moderator thehorse13's Avatar
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    I've seen some places actually recommend removing computers from some business processes because it's too expensive to meet compliance.

    Scary business out there. Lots and lots of politicians dabbling in areas they have no business even discussing let alone writing legislation. In other words, business as usual.

    woohoo!!
    Our scars have the power to remind us that our past was real. -- Hannibal Lecter.
    Talent is God given. Be humble. Fame is man-given. Be grateful. Conceit is self-given. Be careful. -- John Wooden

  5. #5
    Senior Member genXer's Avatar
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    Agreed - but you know what's scarier? When I was debating - discussing I mean - with that politician last night, she and one of her workers, suggested I become a lobbyist - because in topics of technology in politics, I at least had some background in IT! I didn't know if I should take that as an insult or not.

    I just told her I would like to meet the senators who drafted the legislation and ask them if they knew what they were getting into - meaning did they do some research or something like a Six Sigma project to check this out, or was this a knee-jerk response - meaning "Aww sh*t people are wigging out and the market will crash - we better do something quick-like - plus we can look like heroes!"

    Again - yes we need this type of legislation in effect to bolster stakeholder confidence in companies and to ensure legal finanical reporting, but I don't think this was researched in terms of something like a TCO. Well, that and the standards continue to be in flux, or at least people's interpretation of them... we now have a full department just for SOx - and it's global by the way, because of our operations in other countries.

    TH13 as you stated, "WOO-HOO!"
    \"We\'re the middle children of history.... no purpose or place. We have no Great War, no Great Depression. Our great war is a spiritual war. Our great depression is our lives. We\'ve all been raised by television to believe that one day we\'ll all be millionaires and movie gods and rock stars -- but we won\'t. And we\'re learning slowly that fact. And we\'re very, very pissed off.\" - Tyler (Brad Pitt) Fight Club.

  6. #6
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    I've known about this SOX problem for a while... what I can't figure is why my company, which is making money hand over fist as the largest domain register in the world, would file to become public and have to deal with this crap.
    "Experience is the hardest teacher, it gives the test first and the lesson after." Anonymous

  7. #7
    Senior Member Kite's Avatar
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    Would just like to point out that its FOX news, not REAL news.
    I suppose its just another risk companies will have to take if they want to go public.
    I know your type, you think "I'll just get me a costume, rip off the neighborhood kids". Next thing you know, you've got a jet shaped like a skull with lasers on the front!
    -The Monarch.

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