For years now, we’ve heard that Sarbanes-Oxley is a problem because compliance is expensive and it keeps companies from focusing on the business of doing business. These are valid complaints, to be sure.
The February edition of Accounting SmartPros, however, reports that many companies are now blaming Sarbox failures on a lack of qualified personnel. Of 400 public companies participating in a recent Compliance Week study, the story says, “41.5 percent noted weaknesses due to insufficient staffing, poor training, segregation of duties” and other HR issues.
Writers Marcella LoCastro and Gary Popeck, of SolomonEdwardsGroup, say employing the appropriate staffing strategy depends on an organization’s maturity in the compliance process.
See full Article.
Posts
