Companies dig deep for ethics compliance

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While I am sure corporate policies

regarding IT need improvement, this new law will not even change the way companies "cook the books". This problem existed long before every employee had a pc on their desk. Like all gov regulations in business, this one increases inefficiency with little results. When gov regulations go past evening the playing field due to the lack of a "perfect market", they are more harmful than good. And that harm is passed to the consumer. Most reg's actually increase the tendencies to fudge on the financial statements to make up for the increase in costs and decrease in profits. To use an overworked cliche, You cannot legislate morality. But then what else can you expect from a bunch of lawyers turned professional politicians that don't understand economics? It amazes me how many new laws they can come up with. Especially when none of them seem to reduce the amount of crime they are in response to.

Of course this is just my opinion as a CPA of over 20yrs.

Posted by: bjbrock   Posted on: 11/24/04 You are currently: a Guest | Members login | Terms of Use

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