With one in three executives expecting to be subject to a formal enquiry, has regulation gone too far?
Ah, regulation. The last few years have seen a slew of the stuff, accompanied by reams of guidance on how to improve corporate governance and prevent another Enron-style debacle. It is also aimed at restoring the tarnished image of the accountancy profession.
Alongside this, UK companies listed in the US have the additional responsibility of complying with the Sarbanes-Oxley Act, another response to Enron. All of this adds up to a significant increase in the regulatory burden facing companies.
Add to this changes to compliance burdens from bodies such as the Financial Services Authority and government departments like the Department of Trade and Industry and the Inland Revenue and it can get confusing as well as resource-draining.
See full Article.
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