Some time ago I heard an interview on the efficacy of SOX in the real world of IT. The interviewee estimated--hypothetically and well after the fact--that Enron would likely have scored a C- in a full SOX audit. As I said, minimal protection achieved.
. . J.O.Skip Robinson Southern California Edison Company Electric Dragon Team Paddler SHARE MVS Program Co-Manager 323-715-0595 Mobile 626-543-6132 Office ⇐=== NEW [email protected] -----Original Message----- From: IBM Mainframe Discussion List [mailto:[email protected]] On Behalf Of Anne & Lynn Wheeler Sent: Thursday, April 20, 2017 2:36 PM To: [email protected] Subject: (External):Re: Vendor Licensing Frustrations [email protected] (Jesse 1 Robinson) writes: > Unfortunately legislative bodies are dominated by lawyers, especially > in the U.S. Sarbanes-Oxley (SOX), Congress's blunderbuss response to > the Enron debacle, achieves maximum burden with minimal protection. A > classic case of lawyers meddling in IT. the rhetoric on flr of congress was that it would guarantee that executives and auditors went to jail (but it required SEC to do something) ... the joke was that congress felt so bad about accounting firm going under ... it was full employment gift to the audit industry. possibly even GAO didn't believe GAO was doing anything, it started doing reports of public company fraudulent financial filings ... even showing uptic/increase after SOX goes into effect (and nobody doing jailtime). After SOX goes into effect, there is EU conference of CEOs and exchange presidents in Liechtenstein about how SOX audit requirements were leaking into EU companies (that had contracts with US companies) ... and I'm asked to talk about how it wasn't really meaningful (as well as being able to program corporate computers to beat SOX audit). -- virtualization experience starting Jan1968, online at home since Mar1970 ---------------------------------------------------------------------- For IBM-MAIN subscribe / signoff / archive access instructions, send email to [email protected] with the message: INFO IBM-MAIN
