Risk managers can play an important role in complying with corporate disclosures required by the federal Sarbanes-Oxley Act, though few do today, according to a survey of risk managers taken by a consulting firm.
David Bradford, editor-in-chief for Advisen, wrote in a report that the company's study found those firms that involve risk management in the compliance process receive great benefit from its inclusion. Sarbanes-Oxley, known also as the Public Company Accounting Reform and Investor Protection Act, took effect in 2002.
Advisen consulting group, out of New York, asked 6,500 risk managers to take part in an online survey during the last week of July. Of the responses, 215 came from publicly held companies and 87 from nonpublic firms that comply with the internal control rules.
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