Friday, April 08, 2005

Sarbanes Seeks Rent Control

Dozens of companies have had to restate, adjust or delay earnings reports in recent months because of problems they've had in accounting for leases. Now some experts are warning that the restatements could be a sign of deeper problems.

The issue has come to light as scrutiny has intensified on public companies' accounting methods. The Sarbanes-Oxley Act -- Congress' response to the accounting scandals earlier in the decade -- has forced companies and their auditors to examine accounting procedures and controls, as well as require corporate executives to verify the accuracy of their companies' financial reports.

See full Article.