The Impact of Sarbanes-Oxley on the Contingent Workforce
Posted by Sean Rehder (Permalink) | 0 Comments | | Monday, August 07, 2006


"The passing of the American Competitiveness and Corporate Accountability Act by Congress in July 2002 (also known as the Sarbanes-Oxley Act after its two authors) came in the wake of well-publicized scandals that rocked corporate America and may well have ushered in a new era in senior executive accountability. SOX, as it is commonly known, has triggered a chain reaction with regard to business in general and human resources in particular. The law specifi cally applies to any American fi rm listed on any of the U.S. stock exchanges and primarily seeks to tighten fi nancial auditing procedures. According to the new act, CEOs and CFOs are legally responsible for compliance and for certifying the accuracy of fi nancial statements. Failure to do so can result in prison terms of up to 20 years and fi nes of up to $5 million. Undoubtedly, the way the law has been framed, the legal and punitive ramifi cations of the Act make compliance a critical concern for senior management and, by extension, human resources"

This document was written by Allan Schweyer, executive director at the Human Capital Institue, based off of a webinar that I was a panel member with some very knowledgeable people...
  • Douglas Berg from Hotgigs.com
  • Denny Clark from Wachovia
  • David Glue at Arachne GEI
  • Dwight Herperger at Working Ideas
  • John Silver at Provision Technologies
  • Elain Taylor at ILogos Research
  • Marion Dino at JP MOrgan Chase
  • Ginny Gomez at Taleo
  • Gene Zaino at My Biz Office
  • Judy Talyor at Xerox
Get the PDF document.

And here is a plug for another webinar (it's free) this Thursday that I will be a panel member of:

Assessing and Managing Risk in Contract Workforce Management

When: Thu, Aug 10 / 12:00 PM - 1:30 PM ET
Where: On The Web
REGISTER

"As rich as the potential rewards are for successfully engaging and deploying a stable of contract talent, there are risks associated with turning over a significant portion of the work that a company does to individuals who don't, technically, "work for the company." Some of these risks are business risks; for example, what are the implications on ownership of intellectual property? Some of the risks are financial: how does the process of dealing with the IRS change? Other potential risks are related to compliance.

In Part Three of this series we will look at how the best companies are managing these risks, starting with how to determine potential exposure points then moving into the various methods companies use to mitigate them."

Hope to "see" you there.




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