Most companies, who have been affected by problems due to spreadsheet errors, are not keen to make the information public. They fear the negative publicity associated with the issue. There could also be potential legal and financial consequences of making the information public.
Sales commission, unlike many other applications tends to be fairly unique from company to company, though there is significant commonality within an industry. The other unique aspect of sales commission is the flexible nature of customer needs. It is fairly common for a company to change its commission plans year to year or even within the year.
The U.S. Congress passed the Sarbanes-Oxley act in 2002, in response to multiple accounting scandals and collapses of major companies such as Worldcom, Enron and Arthur Anderson. The primary goal of this act is to protect investors by improving the accuracy and reliability of corporate financial information. It has done this by specifying new standards of accountability, needed controls, disclosure requirements and it is enforcing it by new penalties for acts of wrongdoing and non-compliance.
|MANA serve sales agents, manufacturers and service providers by promoting and improving the agency/principal method of marketing.|
|For more than 20 years, Sales Rep’s Advisor has been a trusted source of news and information for independent manufacturers’ representatives.|