August 25, 2004
SEC to study Off-Balance Sheet Debt
The SEC is determined to enforce all aspects of the Sarbanes-Oxley Act and all supporting rules. To continue the trend toward transparency on publicly held company balance sheets, they are ordering a study of breaches in this area. They do not want more Enrons on their watch!
An article from the Washington Times highlights this concern:
"New Securities and Exchange Commission rule, known as "FIN 46," was implemented this year to cut down on Enron-style accounting that hid corporate debt, the Financial Times reported Tuesday.
But FIN 46 has been honored mostly in the breach, said Donald Nicolaisen, the SEC's top accountant."
See the complete article at: http://washingtontimes.com/upi-breaking/20040824-122248-5963r.htm
For more information on Issues Central Sarbanes-Oxley Compliance Playbook (tm) see www.issuescentral.com
An article from the Washington Times highlights this concern:
"New Securities and Exchange Commission rule, known as "FIN 46," was implemented this year to cut down on Enron-style accounting that hid corporate debt, the Financial Times reported Tuesday.
But FIN 46 has been honored mostly in the breach, said Donald Nicolaisen, the SEC's top accountant."
See the complete article at: http://washingtontimes.com/upi-breaking/20040824-122248-5963r.htm
For more information on Issues Central Sarbanes-Oxley Compliance Playbook (tm) see www.issuescentral.com
