[arin-ppml] Does this apply to Transfers too?

[Kevin Kargel]

> -----Original Message-----
> From: arin-ppml-bounces at arin.net [mailto:arin-ppml-bounces at arin.net] On
> Behalf Of michael.dillon at bt.com
> Sent: Tuesday, April 21, 2009 1:02 PM
> To: ppml at arin.net
> Subject: Re: [arin-ppml] Does this apply to Transfers too?
> 
> > What it will boil down to is that some executive will call
> > the NetAdmin in to his office look him in the eye and say
> > "Are you absolutely darned sure this is accurate" and the
> > NetAdmin will say "Yes, I wouldn't have written it down if it
> > weren't." and the (COO or some such) will sign the affidavit
> > based on the word of the NetAdmin who the COO trusts.
> 
> What world are you living in? The executives who did that in
> Enron, Worldcom, Tyco and others, are now sitting in jail.
> The Sarbanes-Oxley act is not just law, but common corporate
> practice even for companies that are not incorporated under
> U.S. jusrisdiction.
> 

I agree 100% that there will (should?) need to be changes in the way
accounting is done, at a very minimum for those companies subject to SOX.  I
also agree that the "officer" should double check with his audit team (if
such exists).  That should happen now.  I suspect it rarely does (or rarely
even exists).

This is one reason that there will be more CTO chairs in the executive
boardrooms in the future.

I live in the small business world.  And I like it here.  It is a nice
world.
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