Inscrit le: 27 Jan 2018
ID PSN: kesizewi
|Posté le: Mar 10 Avr - 11:22 (2018) Sujet du message: General Sarbanes Oxley Discussion
I'm new to posting in this forum. I'm in charge of Compliance in my company which has to satisfy SOX requirements. Recently during a meeting to organize the upcoming Company Dinner and Dance, one Organizing Committee member inquired if it is SOX compliant to accept Sponsorship of gifts from our Suppliers if we request them to sponsor through invitation letters. I browsed through our Code of business conduct and it prescribes that "Gifts from our Suppliers within the context of business relationships or activities should NOT be accepted directly or indirectly, if they could be considered "extravagant" ". So the definition of "extravagance" is not totally clear here. I'm thinking of proposing to the managment to set a ceiling or cap to define how much it would be reasonably concluded to be "extravagant". Say, only any amount above US$5,000 would be considered extravagant. Any views from the floor or you guys have similar experiences to share?
I didn't find the right solution from the internet.
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