22 November 2003

Sarbanes-Oxley becoming evangelistic in the USA

IT-Director.com: Sarbanes-Oxley becoming evangelistic in the USA

Bob McDowall
Technology Channel: Business and Finance

Sarbanes-Oxley was a body of legislation, which very hastily and reactively codified a range of provisions on the corporate governance and conduct of US domestic companies listed on US stock exchanges. This came in reaction to the corporate greed and excesses, displayed by many US corporations over the past twenty years or so, as the USA started to live beyond its means. According to recent commentary based on research in the USA, Sarbanes-Oxley shows all the signs of becoming the standard for US private companies as well as publicly listed companies.

Some of the Sarbanes-Oxley provisions apply to public and private companies: matters such as document retention, increased penalties for mail and electronic fraud and liability for retaliation against whistleblowers. Infringing this legislation may result in fines and/or imprisonment."

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