December 09, 2004
Small Firms Now Facing Challenges of Section 404
Smaller publicly held companies are being dumped by larger accounting firms who already have too much Section 404 work with large clients. Maybe it is time to take a different view to the problem and not rely solely on services firms who will provide no infrastructure. This means year 2 and on will be as time consuming and costly as year 1. Maybe some product support and self-sufficiency is what is needed. Where labor is unavailable, put some technology in to help.
An excerpt highlighting this issue:
"Not enough accountants. Some accounting firms are shedding clients as they struggle to keep up with Sarbanes-Oxley work. Wireless equipment maker Endwave was dumped by Ernst & Young in September, forcing the Sunnyvale, Calif., company to turn to second-tier firms BDO Seidman and Grant Thornton. They were also too busy.
Endwave ended up with local firm Burr Pilger & Mayer. CFO Julianne Biagini says the new accountants have done a good job, but she's worried that "they aren't going to have the back-up resources (of a big firm)." Ernst & Young says it's trying to hire more staff to meet demand." For the complete article, click here.
To learn more about an effective and affordable solution to help, see www.issuescentral.com and learn more about Sarbanes-Oxley Compliance Playbook(tm).
An excerpt highlighting this issue:
"Not enough accountants. Some accounting firms are shedding clients as they struggle to keep up with Sarbanes-Oxley work. Wireless equipment maker Endwave was dumped by Ernst & Young in September, forcing the Sunnyvale, Calif., company to turn to second-tier firms BDO Seidman and Grant Thornton. They were also too busy.
Endwave ended up with local firm Burr Pilger & Mayer. CFO Julianne Biagini says the new accountants have done a good job, but she's worried that "they aren't going to have the back-up resources (of a big firm)." Ernst & Young says it's trying to hire more staff to meet demand." For the complete article, click here.
To learn more about an effective and affordable solution to help, see www.issuescentral.com and learn more about Sarbanes-Oxley Compliance Playbook(tm).
