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Accounting deadline could kill software spending

Accounting deadline could kill software spending

by Rick Turoczy on August 25, 2004

Public companies must certify their compliance with a key section of the Sarbanes-Oxley Act when they close this year’s books, noted JMP Securities analyst Patrick Walravens. The law, which Congress passed in 2002 following financial scandals at Enron and WorldCom, is supposed to make corporate accounting procedures more transparent to investors and regulators. Ironically, the law was supposed to be a gold mine for software developers that introduced special programs to help corporate clients comply with it. Instead, Sarbanes-Oxley work may delay software purchases over the next few months, Walravens said.

Accounting deadline could kill software spending

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