Article Analysis Sox memo
Memorandum
University of Phoenix
DATE: October 7, 2013
TO: Tammy Johnson
FROM: xxxxxxxxxxxxxxx
RE: Sarbanes-Oxley Can Fix Government Retrieved on 10/5/2013 from: http://www.americanthinker.com/2013/05/sarbanes-oxley_can_fix_government.html
ARTICLE SYNOPSIS The recent events in the news pertaining to the government shows that there is a problem and that a reform is needed in the near future. The things happening in the governments shows that they are becoming a bigger entity than anticipated and that their size is too big to govern them adequately. The missteps of the Internal Revenue Service in which they abused their taxing authority to hunt and hinder political opponents; congressmen who engaged in related party transactions; the administration hiring family members of major media executives; and regulators seeking rents from regulated companies.
LEGAL ISSUES The Sarbanes-Oxley required corporate auditor independence, which includes a prohibition against the audited hiring close family members of employees of the auditor. This prohibition can be applied to prevent the United States government hiring of close relatives of employee of major U.S. news organization. The law also restricts an auditor’s hiring of former employee of the audited. The existing securities laws require a one year hiatus between someone being employed at an auditor and being employed by the audited. The same hiatus should govern major news organizations and the U.S. government. The Sarbanes-Oxley prohibits corporate auditors from participating in activities outside their core competency in hopes of avoiding a conflict of interest. Sarbanes-Oxley and the NYSE regulate and limit related party transactions, specifically company employees and directors man not enter into material-related party transactions and must disclose any such transactions whether material or immaterial. Sarbanes-Oxley mandates that senior executives take individual
University of Phoenix
DATE: October 7, 2013
TO: Tammy Johnson
FROM: xxxxxxxxxxxxxxx
RE: Sarbanes-Oxley Can Fix Government Retrieved on 10/5/2013 from: http://www.americanthinker.com/2013/05/sarbanes-oxley_can_fix_government.html
ARTICLE SYNOPSIS The recent events in the news pertaining to the government shows that there is a problem and that a reform is needed in the near future. The things happening in the governments shows that they are becoming a bigger entity than anticipated and that their size is too big to govern them adequately. The missteps of the Internal Revenue Service in which they abused their taxing authority to hunt and hinder political opponents; congressmen who engaged in related party transactions; the administration hiring family members of major media executives; and regulators seeking rents from regulated companies.
LEGAL ISSUES The Sarbanes-Oxley required corporate auditor independence, which includes a prohibition against the audited hiring close family members of employees of the auditor. This prohibition can be applied to prevent the United States government hiring of close relatives of employee of major U.S. news organization. The law also restricts an auditor’s hiring of former employee of the audited. The existing securities laws require a one year hiatus between someone being employed at an auditor and being employed by the audited. The same hiatus should govern major news organizations and the U.S. government. The Sarbanes-Oxley prohibits corporate auditors from participating in activities outside their core competency in hopes of avoiding a conflict of interest. Sarbanes-Oxley and the NYSE regulate and limit related party transactions, specifically company employees and directors man not enter into material-related party transactions and must disclose any such transactions whether material or immaterial. Sarbanes-Oxley mandates that senior executives take individual
References: Sarbanes-Oxley Can Fix Government Retrieved on 10/5/2013 from: http://www.americanthinker.com/2013/05/sarbanes-oxley_can_fix_government.html