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Replies to post #60426 on Sulja Bros. Building Supplies, Ltd (SLJB)

Replies to #60426 on Sulja Bros. Building Supplies, Ltd (SLJB)
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oreodiamonds

08/30/06 4:59 PM

#60427 RE: cdxx #60426

Exactly 10Q & 10K reporting This is the part that I believe KPMG will handle!
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oreodiamonds

08/30/06 5:04 PM

#60429 RE: cdxx #60426

cdxx Regarding the audit, I believe they will be doing more than 1 year ... possibly 2 to 3 years!
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rrufff

08/30/06 6:29 PM

#60465 RE: cdxx #60426

Most of the big cost is Sarbanes-Oxley. It's huge compared to bottom line for these tiny companies.

There is a move afoot to make the law more palatable for tiny companies. Why should a tiny company have to have redundant systems like a huge entity?

A lot of it is just a boondoggle for auditors, who have raised their fees. Even low end guys are making a fortune doing largely CYA stuff IMO.

This is one of the reaons that companies stay on pinkies. Many companies are doing audited financials but not the other aspects of SOX and saving some money, but still creating credibility that most pinkies don't have.