Sentiment among senior executives in the US towards the Sarbanes-Oxley Act has deteriorated since its implementation in July 2002, according to a recent survey by PricewaterhouseCoopers. Only 30% of the respondents view the legislation in a favourable light, compared to 42% when the same group was surveyed in October 2002.
More worrying is news that only 68% feel confident that their company can fully comply with Sarbanes-Oxley; this figure stood at 82% in October.
“Sarbanes-Oxley has proven to be far more complex and has required companies to make many more changes in control and compliance than executives originally thought,” said Ellen Masterson, global leader of audit methodology for PwC.
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