Wednesday, September 07, 2005
SOX Gets the Dummy Treatment
I read a little blurb a few weeks back about publishing house John Wiley & Sons' plans to print a "Sarbanes-Oxley for Dummies," the latest edition to its best-selling series.
Due out in January, according to the company's Web site, the book is being tagged as a "simple guide to the complex new accounting rules under Sarbanes-Oxley." And though I'm all for the saying that it's better late than never, anyone who needs an overview of the changes SOX has wrought in terms of corporate governance -- and has waited three years to search that impact out -- well, for lack of a better term, they might really be a dummy.
I didn't hear back from Wiley about who exactly the book's target market is, but I sincerely hope the accountants, lawyers, business owners and corporate managers mentioned on the book's Web page aren't the accountants, lawyers, business owners or corporate managers who come anywhere near my money.
The business world might be better served by having a "plain-English guide" that explains the legislation practically, but the truth of the thing is that much of SOX is being read in grays -- not black and white -- and as public companies of varying sizes and resources have sifted through what the changes mean for them, many affected by the law have said that the provision's effects are steeped in expensive documentation mandates for auditors.
posted by Brian Moran @ 8:35 AM