Archived Blog Post: November 27, 2005
In Defense of SOX: "I recall the late 90s when companies would hire the CFO weeks before the IPO road show. I recall that happening with a few CEOs as well. It was crazy. And it's no wonder that so many of those companies ended up being bad public companies. With SOX, that really can't happen. It takes a year or longer to prepare to become a public company. We have several companies in the Flatiron portfolio that are going through this process now. And as much as I hate seeing them spend the money on SOX consultants and staffing up their finance departments, I see it as an important test of whether the company really wants to be a public company or not."