Something to Consider April 2018 – SOX Has Stood the Test of Time
The debate of benefit versus burden surrounding the Sarbanes-Oxley Act has been waging on for over 16 years now. But recent polls have been overwhelmingly positive about the impact it has had on the financial world.
From quality and reliability of information, to investors confidence levels, to the success of the ICFR audit function, the majority of those utilising SOX to its full advantage have reaped the benefits.
Critics continue to point out the added costs associated with SOX, but it would seem from policymakers, to CFO’s, to investors, most would agree that the benefits outweigh the costs.
A generation after SOX’s passage, investor confidence in the United States stands at strong, even record breaking levels and shows that SOX has stood the test of time.
Compliance Week has written an insightful editorial piece on this topic, around why SOX is the watershed law that works. If you are interested, we highly recommend signing up for their 10 Day Free Trial, where you can also enjoy all their other insights.
You can find the link here
Our ‘Something To Consider’ snippets are framed as small, digestible, ‘dashes of insight’ around the pillars of what we define as “World Class Finance” – Process Optimization, Financial Control and Compliance, and Risk Assurance, all underpinned by technology enablement and integration.