Commentary: Effectiveness of Sarbanes-Oxley is seen as mixed

06/10/2014 | Insurance Networking News

The Sarbanes-Oxley Act was developed with the goal of increasing transparency of financial reporting, and while it appears to have succeeded in many ways, critics say it has many drawbacks, write Stephen Willits and Curtis Nicholls of Bucknell University in Pennsylvania. Criticisms involve the act's scope, which some say is too wide and others say fails to extend far enough; how its costs compare with its benefits; and the "chilling effect" some experts think it has had on the cross-listing of international firms in the U.S., Willits and Nicholls write.

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