The Role of Sarbanes-Oxley and ISO 9001 in Corporate Management

A Plan for Integration of Governance and Operations


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About the Book

At the turn of the 21st century, corporate scandals at major companies like Enron, Tyco International, and WorldCom cost investors billions of dollars and shook public confidence in the securities market. In 2002, in direct response to these scandals, Congress passed the Sarbanes-Oxley Act, a sweeping set of new standards for the operation of all U.S. public company boards, management, and public accounting firms. Among its many reforms was the requirement that senior officials take personal responsibility for corporate finances.
This book’s exploration of the relationship between corporate governance and operations uses the requirements of the Sarbanes-Oxley law as a guide and the internal controls of the ISO 9001 Quality Management System as the interface medium to unite the strategic and tactical functions of the corporation. In the process, it introduces new concepts of process liability and materiality and stresses management ethics and responsibility, as well as efficient and effective governance.

About the Author(s)

William A. Stimson is a consultant and technical expert for the Department of Justice, advising on good and bad business practices. He is the author of three books and numerous papers on corporate governance and standards of quality.

Bibliographic Details

William A. Stimson
Format: softcover (6 x 9)
Pages: 230
Bibliographic Info: 7 figures, notes, bibliography, index
Copyright Date: 2012
pISBN: 978-0-7864-6657-3
eISBN: 978-0-7864-8874-2
Imprint: McFarland

Table of Contents

Preface      1

1. Goodwill      13

2. Ethics in Business      16

3. Product and Service Liability      30

4. Contracts, Specifications, and Standards      40

5. Management Systems      51

6. Strategic Operations Management      64

7. The Sarbanes-Oxley Act      75

8. Managing Risk      90

9. Sarbanes-Oxley and Governance      100

10. ISO 9001 Framework for Sarbanes-Oxley      109

11. The Materiality of Operations      118

12. ISO 9001 Matched to SOX      132

13. The Governance System      151

14. Process Liability in Operations      167

15. Conclusions and Recommendations      188

Chapter Notes      201

Bibliography      211

Index      217