“Like Sarbox, it is destined to fail—except for all the lawyers and accountants and new bureaucrats it will enrich.”
~ Neil Weinberg found the silver lining.
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“These material weaknesses are likely to continue to exist until the SEC’s accounting system is either significantly enhanced or replaced, key accounting activity in other systems is fully integrated with the accounting system at the transaction level, information security controls are significantly strengthened, and appropriate resources are dedicated to maintaining effective internal controls.”
~ From a report issued by the Government Accountability Office