Sarbanes-Oxley

Sarbanes-Oxley Who is protecting the Audit Committee?

For Immediate Release:
Contact: Don Eichenauer 585.381.1000

Who is protecting the Audit Committee?

Rochester, New York (PRWEB) June 2, 2003- Section 301 of the Sarbanes-Oxley Act of 2002 requires publicly traded companies to establish a procedure for the receipt, retention, and treatment of complaints received by the company regarding questionable accounting, internal control, and auditing practices. Most companies are having complaints reported over some form of hot line service, but many audit committees are questioning what to do with those complaints. Some audit committees are having internal company personnel filter and follow-up on the complaints before providing them to the audit committee. Others see insider involvement as a conflict and are becoming personally involved in reviewing each complaint received, resulting in a significant administrative burden.

The Bonadio Group, a large regional CPA firm, through their new division called Sarbanes Complaint Solutions (SCS), has established a service that provides the audit committee complaint management and filtering in addition to the standard complaint hot line reporting.

There is a time consuming, administrative component of Section 301 that audit committees are not in a position to handle and many believe having handled by company insiders is a reason for concern. Our service which combines hot line complaint reporting with review, filtering and administration of the complaint handling process enables the audit committee to focus on the important issues while maintaining the independence of the process from company insiders," said Donald Eichenauer, a Bonadio Partner and head of the SCS alliance,

For more information visit Sarbanes Complaint Solutions online at www.sarbanescomplaintsolutions.com

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