A survey shows US directors want radical changes to Sarbanes-Oxley regulations
More than half (58%) of directors in the US feel Sarbanes-Oxley regulations should be repealed or overhauled, according to the latest study from Korn/Ferry International.
Sarbanes-Oxley regulations were introduced four years ago to improve governance, but a staggering 72% of responding directors in the Americas believe that the regulations have made them too cautious; not taking the necessary risks to drive growth. This view is shared in the UK where 61% of directors view the Combined Code as too restrictive.
But, unlike the US, only 28% of UK directors believe that a complete overhaul or repeal of the Combined Code will remedy the situation.
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