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How much more time each week do you think is spent doing the necessary paperwork one has to do for a publically traded company versus a private one and is it justified?
79 months ago
3 answers
An often asked question, and one with no firm answer.
I would say that the time spent, public vs. private, is likely 3x greater. As to whether it is worth it or not, that depends on your measurement of "worth". Most DR plans go unused throughout their lifespan, but I would never operate without one. Are they worth the $1MM+ in time and effort to prepare, test and operationalize them? Same could be said of insurance.
79 months ago
Great question and I think it's subjective to each particular industry, but in general the amount of hours that go into filing would be pretty high. However, I can also see an autmation piece added to the reporting process that expedites the process. Private companies don't have to comply with SEC filing standards which makes it easier from a paperwork standpoint.
79 months ago
I would say "probably not worth the paper used to do it". The question implied by yours regards the instigation of such paper-work producing regulation: what have we done (or failed to do) that deserves this? Consider SOX and its requirements as penance for a failure to exercise self-control: the greater number pays the cost of the lesser's misdeeds. I would wager that the vast majority of those affected by SOX were already exercising strong internal controls such as render SOX's additional paperwork unnecessary. Those who were honest still are, those who were not still aren't.
79 months ago
