Understanding Broadcast and Cable Finance, 2nd Edition

10 Sarbanes-Oxley and Internal Controls

Mary M. Collins

You’re a very successful advertising sales manager who’s just taken a job with a new company. Everything is great—the pay and benefits are much better than those of your previous job. The only problem is that every time you do something and don’t go exactly by the book—whether it’s signing an insertion order before the credit’s been approved or turning in an expense report without itemized meal receipts—the business manager comes down on you. She keeps telling you that you have to do it that certain way “because of SOX” (Sarbanes-Oxley), or “because of Section 404.” You’ve heard these terms in the news, but never paid much attention to them. Something tells you that you should now. Mary ...