Sarbox flies the red flag
Back in the seventies, TS could often be found sporting its Che Guevara T-shirt and shouting anti-capitalist slogans. Now, we care more about how the IAS39 carve out will impact UK plc. How times have changed.
Or have they? According to governance adviser and management consultant Bob Garratt’s recent speech ‘over the medium term, Sarbanes-Oxley could have more effect in killing the US capitalist system than Karl Marx ever dreamed of’.
Now, TS knows that it’s good to make an impact when taking the floor, but we’re not sure whether comparing a piece of financial legislation with the effects of a communist regime is entirely fair.
We’re no huge fan of section 404, but it hardly ranks alongside the human rights abuses, mass starvation and near all-out global nuclear war that hallmarked the communist era.