Transportation Industry
Voluntary 'SarbOx' Compliance Has Rewards
Transport Topics, October, 2007 by Rhodes, Al
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Each year, the Sarbanes-Oxley Act increasingly affects privately held trucking firms. The intent of the 2002 law was to apply rigorous accounting standards to public companies after the Enron, WorldCom and other accounting scandals.
But Sarbanes-Oxley standards rapidly are becoming accounting best practices for all businesses. Some embrace Sarbanes-Oxley standards voluntarily; others are driven by external pressures.
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Many trucking firms are taking notice and complying, at least in part, because it makes strategic sense to do so. But "SarbOx" compliance is a good news/bad news scenario. ...
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