Why dosen't Sarbanes Oxley apply to the United States Gov.

[jyro]

1. Oversee public companies audit (USG =#1 public company)
2. Create audit report standards and rules


If this was applied to the national budget it sure would cutout a lot of politics

[sc281_99-0135]

1. Oversee public companies audit (USG =#1 public company)
2. Create audit report standards and rules


If this was applied to the national budget it sure would cutout a lot of politics

You answered your own question. If the Bean counters had control of the helm, then all those pet projects would never get done.

[White trash wagon]

Government "accounting" not only violates every accounting rule, but common sense as well.

The government hasn't used anything even approaching standard accounting in more than 100 years.

Any business whose books looked liked the US government's would instantly liquidate/bankrupt.

[jyro]

Government "accounting" not only violates every accounting rule, but common sense as well.

The government hasn't used anything even approaching stand accounting in more than 100 years.

Any business whose books looked liked the US government's would instantly liquidate/bankrupt.

I think if congress expects public business to be under it then so should the US gov.

[Scott H]

Wow, it took my little company in the neighborhood of $4M to become SarbOx compliant, and we had about 300 folks at the time. The government would take at least a decade and would need another bailout to pay for it. Each annual audit would take years to complete, and the workings would grind to a halt because it would take them more than a year to just to plan their annual budget.

I'd say my productivity was reduced by a solid 30-40% by SarbOx due to the new "overhead." At our level, $4M off of our bottom line was not insignificant. It created a layer of bureaucrats that does nothing but waste my time. I had a meeting today that lasted 30 minutes that should have taken fifteen, because we had some overpaid pencil-pushers interrupting every other sentence so they could make sure they checked off every box on their forms. "Ok, who's the executive sponsor of this meeting? What authorization code does this little teeny insignificant code change you have? What change request is it related to?" blah blah blah.

After the meeting, one of the jerks asks me if I play golf... :smashfreakB:

[jyro]

does anyone know why Sarbanes Oxley isn't in force for Gov. business.

[Fox466]

does anyone know why Sarbanes Oxley isn't in force for Gov. business.

Because everyone in government is above the law. Look at any recent nominees (or any democrat for that matter) for examples of this premise...