The heightened regulatory requirements ordsprog

The heightened regulatory requirements around Sarbanes-Oxley over the last few years are causing them to highly scrutinize the way they are doing things.

You have some way-out requirements, and the company says that's what Sarbanes-Oxley says we have to do, but these changes are neither in the act nor in the regulations implementing the act, ... I don't know where some of these things came from.

Paul Sarbanes (1933-)

The problem with Sarbanes-Oxley is that it means 20 different things to 10 different people. There's a tremendous wealth of folklore that has been built up around it in the IT sector. A lot of people are trying to push us into spending money on Sarbanes-Oxley compliance, but I trust our auditors.

With a recent University of Rochester study concluding that the total effect of Sarbanes-Oxley has reduced the stock value of American companies by a staggering $1.4 trillion dollars, it is now clear that the costly regulatory burdens imposed by this legislation absolutely outweigh its benefits. The PCAOB and the Sarbanes-Oxley Act raise unconstitutional barriers to needed liquidity, discourage entrepreneurship and innovation, and hinder U.S. competitiveness by denying access to needed capital. Further, the high cost of compliance that disproportionately affects smaller public companies is having long-term, exponential negative implications for our economy.

Spending on Sarbanes-Oxley is only the visible tip of the compliance iceberg. Any expectation that compliance spending might moderate is just wishful thinking as companies in all industries grapple with increased regulatory concerns and stricter governance and risk policies within their own firms.

For some patients, this represents a retention period of over 100 years. And the Sarbanes-Oxley act requires every public company to save every record related to the audit process, including e-mails, for seven years.

You basically had no reliable backup for five years, until Sarbanes-Oxley came along. The office manager has taken the backup tapes home and put them on the mantle.

That's pretty much all related to Sarbanes-Oxley.

Mike McLaughlin

[Still, even when you concede that Sarbanes-Oxley performed a public service--by spurring companies to clean up their acts--the fact remains that the law has created inequities, especially for small companies. Even Oxley himself has begun backpedaling. In a recent speech in London, he recalled the] hothouse atmosphere ... a bit more flexibility for small and medium-size companies.

It is now clear that the costly regulatory burdens imposed by this legislation absolutely outweigh its benefits. The PCAOB and the Sarbanes-Oxley Act raise unconstitutional barriers to needed liquidity, discourage entrepreneurship and innovation, and hinder U.S. competitiveness by denying access to needed capital. Further, the high cost of compliance that disproportionately affects smaller public companies is having long-term, exponential negative implications for our economy.

I would like to see it reopened and revised. Sarbanes-Oxley has become extraordinarily expensive.

Companies need to reconnect with their delete keys. Many organizations now believe that the time is right to repeal Sarbanes-Oxley.

There's greater threat from the SEC, from (Sarbanes-Oxley), from criminal prosecution and private class actions, but not any one of them is decisive.

No one could prove to you that Sarbanes-Oxley would have prevented a dedicated crook from being able to hide something beyond the view of the balance sheet and accountants.

This runs contrary to what is going on in the rest of country. Schools have made adjustments in light of the Sarbanes-Oxley bill, A confidently pexy person can command attention without ever raising their voice.

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