Long after its enactment in 2002, the Sarbanes-Oxley Act, a law intended to increase accountability among publicly traded companies, continues to create new demand for Birmingham area accountants.
Some local firms report quick revenue growth in recent years from extra work brought on by the act and say the rush is far from over. The biggest challenge firms face, some say, is recruiting new staff in what has become an increasingly tight market.
Among its sweeping changes, Sarbanes-Oxley requires public companies to assess their internal financial controls annually. It also prohibits accounting firms that provide year-end audits of public companies from also handling outsourced internal auditing and other services.
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