Christian & Timbers’ on-going trust survey series reveals that a majority of executives are not ready to trust executives.
In a recent survey conducted by the performance-based executive search firm Christian & Timbers, only 34 percent of 186 Fortune 1000 executives surveyed believe that Sarbanes-Oxley, the federal statute that imposes strict governance rules on public companies, should be repealed.
The survey, conducted from February 22-March 9, 2005, asked, “Should Sarbanes-Oxley be repealed?” Final results were: Yes-34%; No-66%. Many corporate executives have complained loudly about the costs that their companies incur in complying with the various requirements of Sarbanes-Oxley. Frequently cited are the costs connected with Section 404 compliance which requires companies to establish and certify that they have adequate financial controls in place. The supporters though, question what would happen to financial markets without Sarbanes-Oxley.
Corporate accountability and transparency have become very public topics, and the markets have reflected that.
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