As I’ve documented many times in the past on this blog, Sarbanes-Oxley Section 404 has its ups and downs, and most of it deals with which side you work for.
In case you thought no one was thinking about the implications on business anymore, this Washington Post article suggests otherwise.
One of my quarrels with section 404 is that it has the ability to create a false security blanket. Remember that at Enron, if only people/investors had looked more closely at the financials sooner, they would have seen the imminent demise. And in my opinion we’ve created a whole bunch of rules for companies to follow that we’re still not sure are exactly effective.