New requirements of Sarbanes-Qxley Act demand business as 'unusual'

摘要

Hands-on systems testing by corporate officers and hands-off relationships with audit firms are becoming the norm as companies move to comply with requirements of the Sarbanes-Oxley Act of 2002. Though the increase in senior level review will ultimately strengthen companies as they become tighter and more efficient, the road to compliance will be complex and costly. Sarbanes-Oxley emerged as a result of a series of corporate accounting scandals throughout the United States. Among the Act's many provisions is a detailed process by which a corporation must certify that its internal controls are effective and its financial reporting disclosure controls are reliable.