Resources for Sarbanes-Oxley (SOX)

Michael Oxley Says SOX A Burden At First, But Now A Global Trendsetter

www.wallstreetandtech.com

Former U.S. Congressman Michael Oxley, vice chairman of Nasdaq, acknowledges that the Sarbanes-Oxley Act he co-authored was too onerous at first -- but says it has since spurred a global compliance trend. "The implementation of Sarbanes-Oxley initially brought about more costs," Oxley said in an interview with Wall Street & Technology at the Harvard Club in New York. "It was a kind of 'perfect storm.'" Compliance costs were initially driven up by the collapse of Arthur Andersen, the accounting firm convicted of obstructing the U.S. government's investigation into the collapse of Enron, according to Oxley.

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