Tag Archive: sarbanes-oxley

Lessons Learned from a Genius Businessman

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My best friend’s dad was as close to a business genius as I’ve stood. He made his employers rich beyond their wildest dreams yet he was happy with this outcome as he enjoyed what he did and lived to 98 including many travels to exotic places — not the ones you might think of but ones he enjoyed. For example, he went to Nicaragua and had many wonderful stories to tell about crocodile farms and uzis. Somehow, he and his wife managed to trust people they probably shouldn’t have, travel to a country not recommended, even by people they met…
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Sarbanes Oxley

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  The 2002 Sarbanes Oxley legislation (new, enhanced standards for all U.S. public companies) was established in response to high-profile financial scandals (Enron, etc.) in order to protect shareholders and the general public from accounting errors and fraudulent practices. However, implementing SOX in a meaningful way for an organization is far from a no-brainer. A few tips include: Understand your business – what are your key business processes? Understand and document those processes, from the financial risk and control perspective. Do not worry about the rest. Materiality – this is another way of saying, focus on the 80/20. Focus on…
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