Question & Answer: while it may not be necessary for a small business to comply with SOX, do you think th…..

while it may not be necessary for a small business to comply with SOX, do you think the business could still benefit by voluntarily implementing elements of SOX? Why or why not?

Expert Answer

 

Ans: Yes SOX compliance will benefit the company in longer run despite it will increase the cost to company as it will help to develop a environmentwithin the entity which will keep a check on executives from commiting non compliance and fraud. Furthermore as every time stakeholder will have a check on company operations so it will help them also in avoiding bad decisions.With sox it also helps business in developing internal reforms starting with swot analysis, policy development. All this help business refine its process and develop as an whole.

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