ASQ provides direction on proposed changes to Sarbanes-Oxley rules and standards
ASQ President, Ronald D. Atkinson, sent to both the U.S. SEC and PCAOB the consolidated comments from ASQ Sarbanes-Oxley (SOX) experts on 23-Feb-07. Mr. Atkinson noted that ASQ recognizes the importance of the Sarbanes-Oxley Act (SOX) to the global economy and the role it plays for investors by providing transparency in organizational finances. To this end, in 2004 ASQ instituted a new organization, the Sarbanes-Oxley (SOX) Community. The goal of this community is to provide dialogue in understanding the role quality and environmental management systems can play in supporting organizations’ compliance to the Act. A major part of the SOX Team effort has been to look for ways of “building quality” into the development of financial reports.
Regarding SEC’s Proposed Rule: Management's Report on Internal Control Over Financial Reporting, ASQ comments are on http://www.sec.gov/comments/s7-24-06/s72406.shtml
Regarding PCAOB’s Proposed Auditing Standard – An Audit of Internal Control Over Financial Reporting that is Integrated with an Audit of Financial Statements, ASQ comments are on http://www.pcaob.org/Rules/Docket_021/Comments/all.pdf
Background on these proposed rules and standards can be on previous blog entries.
Comments
Sarbanes-Oxley is one of the major reason for the proublems in the banking industry we see today. I would suuggest ASQ make this point very clear. SOX has very little if nothng at all to do with Process Improvenents as we thought and hoped it would. This is a badly planed Goverment oversite/management regulation/program with many good intentions and very bad results....Who didn't know this....was it the MBA or a CPA or both. Try a "Community Orginizer" with Socialist tendencies. I want to thank all of them from the bottom of my srinking 401k.........
Posted by: Neal Barncard | September 29, 2008 02:03 PM