Sarbanes Oxley Violations
sarbanes oxley violations
How is this not a criminal violation of Sarbanes Oxley?
Only six days before General Electric had arranged to raise $15 billion in equity, GE chief Jeff Immelt said, when asked about the possibility of the company’s selling new equity “We just don’t see it right now. We feel very secure about how the funding looks.”
How is it possible that the market was given NO NOTICE of there being so substantial a risk on the books that they would need $15 BILLION in ONE WEEK WITH NO NOTICE? WHY ISN’T THIS BEING PROSECUTED???
Issuers are required to disclose to the public, on an urgent basis, information on material changes in their financial condition or operations. These disclosures are to be presented in terms that are easy to understand supported by trend and qualitative information of graphic presentations as appropriate.
THERE IS NO WAY ON EARTH that their situation changed so dramatically in just a few days, without a reasonable expectation that such a change would occur. They were hiding the risk.
This is why a federal investigation must be held. Trust me, heads are going to roll .
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Driving financial process improvement: continuous monitoring can catch common transaction errors and control violations that a manual review might … (SOX)): An article from: Strategic Finance $5.95 This digital document is an article from Strategic Finance, published by Thomson Gale on January 1, 2006. The length of the article is 1703 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.Citation DetailsTitle: Driving f… |
