Replies to post #58985 on Medinah Minerals (MDMN)

[Beth0515]

Easy, that is just one man's opinion, and purely anecdotal in any case.

The most comprehensive survey of SOX to date reports this:

"In a survey of more than 400 executives and professionals across a variety of industries, 70 percent said the benefits of Sarbanes-Oxley compliance outweigh the cost. Over time, the many man hours and all the money spent on software to automate controls, consultants, auditors, filing fees, etc., pays off. Further, 87 percent of respondents said complying with Sarbanes-Oxley reaps benefits - beyond avoiding trouble from regulators.

As for what those benefits are, 54 percent said they better understood the design and effectiveness of their internal control. Nearly half indicated compliance increased efficiency and effectiveness of their companies' operations (46 percent) and allowed their internal auditors to perform more traditional audits (43 percent).

Other respondents - though not as many - indicated that compliance allowed external auditors to rely more on internal audit results or helped them to more easily identify duplicate or unnecessary controls.

A mere 13 percent of respondents said the only reason they bother with Sarbanes-Oxley compliance is to not run afoul of the law. They see no benefit in complying."

In any case, I fail to see why additional transparency for MDMN isn't our shared goal as OWNERS. Tolerating management's continuing disregard for financial integrity only means we should expect "more of the same" from the circus in the future.

MDMN has a market cap of nearly $50 million. We deserve better.

[janice shell]

Facts, not fiction or wishful opinions, say this is sheer nonsense for small companies.

Canada says that ALL public companies must report, no matter how small they are. And they do it. We should have the same requirement.