Sarbanes-Oxley Act forcing US Inc to dig out 'skeletons'

If the list of companies confessing to having a weak handle on financial reporting was small, critics of the internal control segment of the Sarbanes-Oxley Act might have a case. But the roster is long and has grown rapidly recently.

So for all the huffing and puffing about the costs of complying with one of the final mandates of Sarbanes-Oxley, introduced in ’02 after a series of huge corporate scandals, there are clear signs that Section 404 of the Act is forcing companies to uncover some deeply buried accounting skeletons.

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