It’s been three years since the Sarbanes-Oxley Act was signed into law, and public companies are well into their second year of compliance. So where do we stand?
The answer to that question seems to rest partly on whom you ask, when you ask, and who’s within hearing range when you ask. It also depends on how the question is interpreted, since SOX has implications for IT managers, business managers, top executives and boards of directors. Oh yes, it also has implications for investors. In fact, when the legislation was drafted, wasn’t it envisioned that investors would be the main beneficiaries of the improved controls and corporate honesty that SOX would generate?
And the questions continue: Will the new SEC chairman Christopher Cox get fully behind Sarbanes-Oxley or will he, as some predict, be looking to make changes in the way it is drawn up and enforced?
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