As former Enron senior executives Kenneth Lay and Jeffrey Skilling came to trial this month, the Sarbanes-Oxley Act itself has come under scrutiny. At a hearing of a US Senate Committee focusing on accounting and regulatory standards, Paul Sarbanes defended the report he co-authored, arguing that good corporate governance practice was profitable as well as ethical.
Sarbanes cited a report of 2,500 international companies which showed that the implementation of the Sarbanes-Oxley Act had led to a 10% improvement in their relative share price performance.
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