Analysts and Investors Concerned About Potential Impact of Sarbanes-Oxley Section 404 Disclosures

Investors and analysts outside the U.S. are not well informed about Section 404 of the Sarbanes-Oxley Act and are concerned about the potential impact of negative disclosures, according to a new PricewaterhouseCoopers survey of investors and analysts in North America, Europe and Asia who cover U.S.-listed companies. Due in part to widespread publicity, 77 percent of respondents in the U.S. say they know "at least a little" about Section 404. That number falls to about 60 percent in Europe and 40 percent in Japan. The survey, taken in January, is the first to assess how Section 404 is perceived in the global capital markets.

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