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Profiting From Cures for the Sarbanes-Oxley Blues – New York Times

Profiting From Cures for the Sarbanes-Oxley Blues – New York Times

by Rick Turoczy on December 30, 2005

New regulations that sprang from systematic fraud at those two corporations have created a cottage industry of businesses that provide consulting, accounting, computer security and other services to help companies cope with the Sarbanes-Oxley Act of 2002. That law was passed in an effort to clean up corporate accounting.

Sarbanes-Oxley, nicknamed SOX in the financial world, requires corporate managers to evaluate internal financial controls, hire outside accountants to review those controls annually, make more information available to the public and to follow procedures to stifle fraud.

Critics say the new rules are burdensome, expensive and of questionable value, but some entrepreneurs smelled the sweet scent of opportunity in somebody else’s problem.

Sanjay Anand, who ran his own financial and technology consulting business, created the Sarbanes-Oxley Institute of Clifton, N.J., this year to offer training and his brand of Sarbanes-Oxley certification.

Profiting From Cures for the Sarbanes-Oxley Blues – New York Times

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