May 30, 2006
Now Hear This...A Way that Your Company can Avoid Internal Controls Requirements
It seems that if the work your company is doing affects national security or national defense, then the Director of National Intelligence can exempt your company from SEC 1933/34 and the supporting provisions of the Foreign Corrupt Practices Act of 1977. Interesting way to get an exemption. One has to wonder where else this will lead and will be applied.
Excerpt of an interview by Dawn Kopecki from BusinessWeek with Kai Ryssdal , Host of MarketWatch:
"The President just delegated authority to John Negroponte that allows him to exempt any publicly traded corporation that is working on national defense issues or national security issues from the reporting and accounting requirements under the 1934 Securities and Exchange Act. It's basically the rules and regulations that require companies to keep accurate records, acurate books, accurate accounting ... and then disclose those projects and that information to investors."
Click here for the complete interview with the Director of National Intelligence.
If your company does not work DOD or cannot claim national security concerns and has to comply with Sarbanes-Oxley, then see www.issuescentral.com to learn more about the Compliance Playbook(tm).
Excerpt of an interview by Dawn Kopecki from BusinessWeek with Kai Ryssdal , Host of MarketWatch:
"The President just delegated authority to John Negroponte that allows him to exempt any publicly traded corporation that is working on national defense issues or national security issues from the reporting and accounting requirements under the 1934 Securities and Exchange Act. It's basically the rules and regulations that require companies to keep accurate records, acurate books, accurate accounting ... and then disclose those projects and that information to investors."
Click here for the complete interview with the Director of National Intelligence.
If your company does not work DOD or cannot claim national security concerns and has to comply with Sarbanes-Oxley, then see www.issuescentral.com to learn more about the Compliance Playbook(tm).
