The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

US companies accept SOx as part of governance strategy

Almost two-thirds of US companies have accepted Sarbanes-Oxley as part of their wider approach to corporate governance while 30% still view the requirements as a separate goal. This is the finding from PricewaterhouseCoopers? latest management barometer report. The majority of surveyed corporates stand in agreement. Sixty-two per cent have integrated Sarbanes-Oxley into their regulatory compliance processes, while over a third have yet to do so.

Dan DiFilippo, a partner for governance, risk and compliance at PwC, comments: ?Integrating the requirements of Sarbanes-Oxley compliance into ongoing corporate governance and regulatory activities, rather than managing compliance with the law as a separate task, offers the potential for improved business performance in both the short and long term.?

Despite numerous reports surrounding the increased costs imposed by Sarbanes-Oxley, 56% of corporates say they do not track or report internally on the costs involved. ?Given the early outcry about Sarbanes-Oxley?s added costs, it?s surprising that most companies do not document and track this expense,? adds DiFilippo. ?However, many companies have only recently begun to understand the types of costs and value associated with compliance efforts.?

 

The PwC management barometer is a quarterly survey carried out in the US; this survey is based on interviews with 152 CFOs and managing directors of US companies.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree