PwC gives thumbs up to Sarbox

Section 404 boosting confidence in capital and investments

PwC's DiPiazza believes Sarbox has brought about three improvements Since being introduced in 2002, PricewaterhouseCoopers says the Sarbanes-Oxley Act has thus far had 'a positive impact' on the capital markets and investor confidence.

'It fundamentally created a shift in governance from the executive suite to the board room,' expounds DiPiazza. 'Directors, particularly those serving on audit committees, are much more engaged, knowledgeable and empowered to act on behalf of investors. The auditing profession now has independent oversight, a change with far-reaching implications as audit firms are subject to independent inspections 'and rule-making.'

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