sarbanes-Oxley has been slated by business, lawyers and accountants. Not without some justification.
But what about the people the law was supposedly brought in to protect? According to two surveys, most investors says it's boosted their confidence. More importantly, they don't want it eased back.
Indeed, one survey by Pepperdine University's Graziadio School of Business and Management found that one in three investors said Sarbanes-Oxley did not go far enough and nine out of 10 said corporate officers and directors convicted of malfeasance should be sent to jail. Totally mandatory, no quarter given.
The second survey, conducted by the Center for Audit Quality, found that 79 per cent said Sarbanes-Oxley had bolstered their confidence in the market, and 62 per cent said the Act should not be touched.
The surveys point to a profound mismatch between business, government and the community. Which creates problems for business seeking some sort of relief and places politicians and regulators in a difficult position.
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