Thursday, December 15, 2005
James Surowiecki in The New Yorker helps put to rest some of the right-wing complaints about Sarbanes-Oxley. Yes SarbOx can be a pain in the ass for companies, and costly for smaller ones, yet Surowiecki discusses the social costs of corporate fraud. Read it and discover how "faulty accounting" has cost us hundreds of billions of dollars in real money. And he also points out it wasn't just a matter of a few companies (Enron, Worldcom) doing it, with a thousand earnings restatements reported between 1997-2002.
Posted by Grey Matter at 5:23 AM