Chief executives find the corporate governance rules set under the Sarbanes-Oxley Act useful, but also their most challenging governance task, says a New York Stock Exchange survey.
The NYSE's survey of its listed companies' CEOs reports 80 per cent of the 103 bosses are spending more time on regulatory and compliance issues than five years ago.
Almost 70 per cent say their most demanding governance task is meeting the terms set out by section 404 of the act. Under that section, corporate managers must state how they keep their financial houses in order and auditors must check off on managers' statements.
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