Resources for Sarbanes-Oxley (SOX)

Six Years into Sarbox, Favorable Reviews Hard to Come By

www.financial-planning.com

Six years after the passage of the Sarbanes-Oxley Act (Sarbox), there are fewer proponents of the legislation according to a new survey. Just 10% of corporate officials believe that complying with Sarbox had strengthened investors' view of their companies, according to a survey by Oversight Systems.And that paltry figure is down from the 20% the same survey found four years ago. Furthermore, only 29% of the survey's respondents found that compliance with Sarbox reduced the risk of financial fraud at their firms. That figure was down from 33% recorded by the same survey in 2004. Still 69% said that compliance with Sarbox "ensured accountability" from those involved with a company's financial reporting, which was up from 46% in 2004. And more respondents this year (45%) than in 2004 (27%) said Sarbox improved the accuracy of financial reporting.

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