Financial Accounting Blog

Monday, May 23, 2005

Was is Worth it? The Economist wonders whether the benefits of Sarbanes-Oxley exceed its costs.
Alan Greenspan, chairman of the Federal Reserve, spoke up in defence of the statute this week. It was faint praise. He said he was surprised that a law which had been passed so rapidly had worked as well as it has less of an endorsement than it first seemed, since laws dealing with issues as complex as these and passed as rapidly as was Sarbanes-Oxley can normally be expected to fail abjectly.