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Article: Intent of Sarbanes-Oxley Means Culture Change, Not Just Accounting Change; Looming 2003 Deadline to Prove Compliance Assumes Controls Most Companies Don't Have.
- Article from:
- PR Newswire
- Article date:
- March 31, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MINNEAPOLIS -- MINNEAPOLIS, March 31 /PRNewswire/ -- The Securities and Exchange Commission (SEC) may be poised for massive growth in staffing to accommodate a greater workload under the Sarbanes-Oxley Act, but companies that fall under the scrutiny of the act will have little choice but to overhaul their risk and control reporting structure to prove compliance by fall of this year.
Tim Welu, CEO of Paisley Consulting, a business accountability software company in Minneapolis, reports that the executive-level clients of Paisley and its partner Ernst & Young are challenged with setting internal protocols and systems to monitor risk and establish controls, even as ...