Sarbanes-Oxley turned eight this summer, and time has proved to be a friend to the once controversial legislation.
In fact, an annual Sarbanes-Oxley compliance survey released by Proviti in June indicated that 70 percent of the 400 executive respondents in year four or beyond of their SOX-compliance programs agreed that improving their internal control environment was highly beneficial to their operations.
This remarkable increase in approval of the regulations from those who must comply–compared with 39 percent positive responses from executives in their first year of SOX compliance–demonstrates that strong internal controls have a profound effect on entire companies.
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