Local businessmen question effectiveness

Few acts of Congress lately have had the business and financial community scrambling as much as the Sarbanes-Oxley Act of 2002

One of the reasons for the act was in the news Tuesday as the U.S. Supreme Court on Tuesday overturned the conviction of Arthur Andersen, the accounting firm accused of illegally shredding documents as Enron was on trial.

As the public – especially those who lost retirement nest eggs – cried out for reform, the Sarbanes-Oxley Act was created. Officially titled the Public Company Accounting Reform and Investor Protection Act of 2002, Sarbanes-Oxley was put into place in light of the Enron and WorldCom scandals, plain and simple.

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