How to Survive (and Win) with Sarbanes-Oxley

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  KAuditWright02/28/08 Report as spam
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  Focused FInancial Risks

  Currently, internally with my company, we evaluate each and every account for qualitative (impact on financials and high risk business areas) and quantitative (more than $2 Million balance). We perform this quick analysis at the end of each month and at the end of each quarter. This gives us a brief glance at the accounts associated with current monthly and quarterly controls. This also indicates to us any accounts that do not meet this criteria, yet they have controls to be tested, which prompts us to review these controls for possible non-key disposition.

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  AIDOWU02/29/08 Report as spam
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  RE: How to Survive (and Win) with Sarbanes-Oxley

  it was great
  
  Ayodeji

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  Selpark02/29/08 Report as spam
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  RE: How to Survive (and Win) with Sarbanes-Oxley

  This is a really good article--How do you think the church will be impacted by this--it is now becoming the new corporate america.

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  Geoffrey James, Sales Machine02/29/08 Report as spam
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  Churches

  Sarbox only applies to publicly-held, for-profit companies. Churches are ultimately audited by somebody even more exalted than a CPA.

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  rockymtnrick02/29/08 Report as spam
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  Sorry--not good enough for those still living

  I live in Colorado Springs--the very center of "faith-based" enterprises. When I drive by these many huge office complexes, it is clear their funding isn't solely focused ["soul-ly focused"?] on the "mission." "Focus on the Family" is so large it even has an interstate exit sign.
  
  Waiting for a Devine audit doesn't satisfy my concern. "The church" and its tax-exempt or tax-favored status deserves a higher level of visibility than currently imposed.

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  Geoffrey James, Sales Machine02/29/08 Report as spam
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  Don't hold your breath.

  Given the hammerlock that religion has on our political system, you're not going to see the revoking of tax exempt status anytime soon.

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  Manufacturing02/29/08 Report as spam
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  RE: How to Survive (and Win) with Sarbanes-Oxley

  The article was well-informed and succinctly stated, but I take issues with the comments about auditors. As Marketing Director for a public accounting firm, I work closely with auditors who are always cost conscious. Whether a client is an accounting, tax or audit client, they are still a client! No auditor wants to lose a client through exorbitant fees. I have been in the financial services industry for 7 years and have never met an auditor who delights in finding client errors. Our role, by providing the client with an accurate audit, is to help the client mitigate risk and to improve best practices.

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  Geoffrey James, Sales Machine02/29/08 Report as spam
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  Auditors

  My first wife was a CPA and is currently a professor of accounting at a major University. She was absolutely delighted when she found a client error.
  
  When I was married to her we went to numerous Peat Marwick Mitchell parties, where client peccadilloes were discussed with hilarity that increased along with the intake of alcohol.
  
  So I'm not entirely certain that CPAs are the paragons of disinterest that we might all want them to be.
  
  As for running up fees, who are we kidding here? Business is business. Nobody knows that better than an accountant.

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  vanreamer05/23/08 Report as spam
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  LOL!

  Oh Gawd... the good ol' days! Thankfully summer is just around the corner and there will be more parties...

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  Philip Lall02/29/08 Report as spam
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  RE: How to Survive (and Win) with Sarbanes-Oxley

  I'm a Pakistani Christian layman. A comment said US "churches are audited by someone even more exalted". May I have this person's e-mail address. It seems churches' audits are faulty - otherwise how come US churches continuously send thousands of dollars to fraudulent priests/bishops in Pakistan?

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  techwriter@...04/05/08 Report as spam
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  churches and accountability

  Remember that there are many churches and many charitable organizations. Some of them may be run by people with questionable motives, others may be simply misled.
  If you have knowledge of mis-direction of church or charitable funds, please try to expose it (carefully!)
  Either through tips to media, or concerned groups.
  If you want, you can even coordinate and gather information yourself, and find like-minded groups to work with in cleaning up such abuses.

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  vanreamer05/23/08 Report as spam
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  Oh no.. not that!

  How funny... even got the Paks out from the Pulpit! Whatever! Move on! If you had your head on straight, you'd be wearing a yarmulke!

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  pravinbs03/02/08 Report as spam
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  RE: How to Survive (and Win) with Sarbanes-Oxley

  it is a great step to control scandals and protect investers interests, must be made standard accounting practice all over the world..
  
  from,
  pravin suryawanshi.

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  jeffreylam03/10/08 Report as spam
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  RE: How to Survive (and Win) with Sarbanes-Oxley

  It is very difficulty for China IT government .
  
  Jeffrey Lam CISA
  
  linjinfeng@yahoo.com
  
  Beijing,China