This article notes that one of the greatest risks for private companies is an improperly functioning control environment.
A PricewaterhouseCoopers
Trendsetter barometer survey of nearly 350 fast-growth CEOs found that one in four of the fastest-growing, privately held businesses in the country have voluntarily adopted some of the Sarbanes-Oxley "best practices" that have emerged from their public sector counterparts.
Why would they do this? To help create better companies—ones that are attractive to public and private investors, merger & acquisition prospects, customers and other stakeholders. In many private companies, internal controls remain informal. However, inadequate control systems leave companies vulnerable to a broad spectrum of risks.
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Private companies reaping the benefits of Sarbanes-Oxley (1.36mb)
Reprinted with permission from Leader Publishing Group January 2007©.
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