*Some Chicago Boyz know each other from student days at the University of Chicago. Others are Chicago boys in spirit. The blog name is also intended as a good-humored gesture of admiration for distinguished Chicago boys including those pictured above (we claim no affiliation), and others who helped to liberalize Latin American economies.
 
 

 
« Social Insecurity
Quote Of The Day »

Sarbanes Oxley

Posted by Mitch Townsend on December 28th, 2004 (All posts by Mitch Townsend)

Print This Post Print This Post

According to an unsubstantiated rumor, PricewaterhouseCoopers (the largest of the Big 4 accounting firms) has sent one of three letters to the boards of directors of their audit clients with December year-ends. The first says that the company is likely to pass its tests of internal controls; the second that the company could maybe pass if they bust their humps; the third is that they are unlikely to get a clean opinion. The unsubstantiated rumor also has it that as many as one-third of their clients are getting letter number 3 and are truly, deeply unhappy about it. I will be happy to retract this post as the occasion requires, since my source could be blowing more smoke than Pittsburgh in its heyday. We should know shortly.

 

This entry was posted on Tuesday, December 28th, 2004 at 9:02 pm and is filed under Business. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

2 Responses to “Sarbanes Oxley”

  1. Ralf Goergens Says:
    December 29th, 2004 at 12:15 pm

    the third is that they are unlikely to get a clean opinion

    In which sense? They broke some laws and regulations or did they fail to exercice due dilligence?

  2. spongeworthy Says:
    December 29th, 2004 at 12:20 pm

    It means they didn’t engage PWC Consulting for a SA compliance gig.

    I jest, of course.

« Social Insecurity
Quote Of The Day »