Pros and cons of accounting rules weighed Sarbanes-Oxley -- more audits, accountability

Three years after Congress passed a strict corporate accountability measure designed to make it more difficult to defraud investors about corporate financial health, companies are experiencing higher audit fees and increased turnover among financial executives.

The Sarbanes-Oxley Act imposed new duties on corporate officials and subjected auditors to discipline from an independent panel. Analysts say the law has induced executives to pay more attention to financial data and prompted board members and accounting firms to take their work more seriously.

See full Article.