When the Public Company Accounting Reform and Investor Protection Act of 2002 was signed into law by President George W. Bush, he commented:
This law says to honest corporate leaders, “Your integrity will be recognized and rewarded, because the shadow of suspicion will be lifted from good companies that will respect the law.” This law says to corporate accountants, “The high standards of your profession will be enforced without exception. The auditors will be audited. The accountants will be held to account.”
In that vein, please address the following in your initial post to this discussion:
- Why would a company that is not required to file with the SEC want to comply with SOX provisions?
- Why would this same company not want to comply?
- What are the various costs involved in complying with the provisions of SOX?