Sarbanes Oxley for State and Municipal Governments
Congress,
It is high time that regulations regarding government books and accounting methods be streamlined, homogenized, and made accountable! Even the most educated and informed analyst cannot ascertain the financial position of the State or Municipal entity in real time.
Therefore, I propose a Sarbanes Oxley like bill that delineate standards and reporting requirements for any entity that issues bonds that are exempt of United States Federal Income Tax. That the Mayor, Manager and top Financial Officer sign off on with equal consequences of Sarbanes-Oxley.
What do you think? Off base or on target?
Do investors in Municipal and State governments have the same rights to financial and operational information that investors in for profit, publicly traded companies? I THINK SO!
It is high time that regulations regarding government books and accounting methods be streamlined, homogenized, and made accountable! Even the most educated and informed analyst cannot ascertain the financial position of the State or Municipal entity in real time.
Therefore, I propose a Sarbanes Oxley like bill that delineate standards and reporting requirements for any entity that issues bonds that are exempt of United States Federal Income Tax. That the Mayor, Manager and top Financial Officer sign off on with equal consequences of Sarbanes-Oxley.
What do you think? Off base or on target?
Do investors in Municipal and State governments have the same rights to financial and operational information that investors in for profit, publicly traded companies? I THINK SO!
Posted by Bradley Fluetsch at 9/19/2011 8:55 PM 
Categories: Economics
Tags: tax municipal bonds financial statements report
Categories: Economics
Tags: tax municipal bonds financial statements report
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