June 15th, 2009
Act of Omission in Sarbanes Oxley
In some ways I can see how it would be so easy for a company, or a major reporting player, in a major corporation to leave out very important information when reporting financial information. When I was recently skimming over some bullet points of the Sarbanes Oxley Section 302 rules and regulations it said that a company or reporter may not leave out any information. How would an outside agency that was auditing them know if something was left out? How easy would it be to say that they did not know? I suppose that is how we got into the mess to begin with.
