The Sarbanes-Oxley (SOX) Act of 2002 grew out of large corporate financial scandals. SOX aims to improve corporate governance and enhance the accuracy of financial reporting. While compliance is required by the Postal Act of 2006, the Postal Service believes it is a great way to make its business stronger. SOX helps target areas of improvement and strengthen financial accounting, making the Postal Service a better business. As a result, the Postal Service designed and implemented new business mail acceptance procedures and requirements in an effort to comply with SOX.
When you run a business, you need to ensure the revenues from your products at least cover your cost of providing them. Pretty basic business principle. But for the U.S. Postal Service, it’s much more than that — it’s a legal requirement. Specifically, the Postal Accountability and Enhancement...Read More