August 19, 2004
Internal Controls still the buzz with Nortel Audit Committee
Nortel, once a high flyer in telecom, continues to report problems with its internal controls and accounting practices. Interesting that Sarbanes-Oxley legislation is so closely associated by laymen with Enron in the United States. But in fact Nortel's spectacular meltdown touched many more small shareholders than Enron did.
The audit committee at Nortel has a tall job ahead of it. Many naysayers still criticize SOX, but in fact, it has brought some real problems to light. At the end of the day, integrity as a corporate virture to be admired is the real solution, but SOX helps move the important goals of shareholder protection and disclosure of information another step forward...
For the full news release about Nortel see:
http://home.businesswire.com/portal/site/google/index.jsp?ndmViewId=news_view&newsId=20040819005227&newsLang=en
For more information about the Sarbanes-Oxley Compliance Playbook (tm) see www.issuescentral.com
The audit committee at Nortel has a tall job ahead of it. Many naysayers still criticize SOX, but in fact, it has brought some real problems to light. At the end of the day, integrity as a corporate virture to be admired is the real solution, but SOX helps move the important goals of shareholder protection and disclosure of information another step forward...
For the full news release about Nortel see:
http://home.businesswire.com/portal/site/google/index.jsp?ndmViewId=news_view&newsId=20040819005227&newsLang=en
For more information about the Sarbanes-Oxley Compliance Playbook (tm) see www.issuescentral.com
