Saturday, July 29, 2006

Public Accounting Oversight Board - Audit Alert Re: Options

Staff Audit Practice Alert #1 issued July 28, 2006 on Matters Related To Timing And Accounting For Option Grants. Read the alert linked here.

Apparently, shareholders can thank Sarbanes-Oxley Act of 2002 . . . "Available information suggests that the incidence of these and similar practices may have substantially decreased after the implementation of the shortened filing deadline for reports of option grants . . ."

Any Donkey recalls more than one technology executive squealing like a stuck pig over Sarbanes-Oxley. Maybe we are now learning the real reason?

Hat tip to AAO Weblog.

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