We've got Deloitte in here SOX auditing us today. Yay! I can't tell you how exciting it is. We got our typical 18 hours notice that they'll be here for the next week. We used to have KPMG but we fired them as our auditors. Why we did that I'm not completely sure. It probably had something to do with their costs and how they liked to sit around and not do anything. The only problem with that is that we had finally gotten KPMG trained so that they understood what it is that we do here and how our processes work. Now we're back to hand-holding for a few audits, which sucks.
Thankfully I have minimal interaction with the auditors, but it's still a stressful event for the department.
I wonder how many billions of dollars the Sarbanes-Oxley act has cost U.S. businesses... all because of a single solitary event. I love it when politicians over-react. It's like they feel they've got to do SOMETHING or else people will think they don't care. Well guess what? The people forget EVERYTHING as soon as it's not on TV anymore. Take a step back and examine the situation rationally for once. Not every single company out there is trying to screw the investors. Is some oversight good? Certainly. Is this complete overkill? Absolutely.
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