A new survey of more than 300 chief audit executives (CAEs) by Grant Thornton LLP finds that while nearly half believe that the shifting regulatory landscape poses the greatest threat to their company, a vast majority (88%) do not believe that the Sarbanes-Oxley Act (SOX) should be repealed. Of those that believe SOX should be repealed, the cost of compliance is the main reason for doing so. “Since the passage of SOX, organizations have had to dedicate significant resources to comply with a host of new laws and regulations,” noted Warren Stippich, a Chicago-based partner and Grant Thornton’s national Governance, Risk and Compliance solution leader. “Based on discussions with various CAEs during the survey process, many believe that SOX brings a continued focus by management on financial and governance-related controls. However, CAEs believe that compliance audit processes are now well-defined and are currently exploring ways to contribute value creation to the organization well beyond compliance monitoring and reporting.” [GT]
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At Least One Grant Thornton Office Doesn’t Think It’s Too Early To Discuss Holiday Parties
- Caleb Newquist
- September 2, 2010
From the mailbag, straight out of H-town:
Today, sept 1st, I got a save the date for the 2010 Christmas party. So yes GT Houston is having a Christmas party this year and apparently they are so excited about it, they wanted to let everyone know way in advance! Woot!
Is this some sort of retention tactic? Probably too little too late…..
Grant Thornton’s timing of this announcement is interesting on several counts. First, Christmaskuh was canceled by KPMG last year in early August. Since this is the first Holiday Ho down news we’ve received for any firm, this may be a good sign.
Second, our source’s suspicion is noted – is GT Houston employing a free booze morale booster here? Will the promise of catering, free hard liquor (at the very least beer and wine) and the opportunity for awkward sexual advances help rally that office back to indifference as opposed to downright morbidity? Oh and watch out for a certain PwC partner who might try to crash the party since he’ll likely be kept away from the booze at his own.
Discuss the early holiday cheer. And keep us informed about your firm’s/office’s holiday rager status.