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Happy Birthday, Sarbanes-Oxley!

Happy Birthday, Sarbanes-Oxley!

by Rick Turoczy on July 31, 2006

When the Sarbanes-Oxley Act came squalling into existence on July 30, 2002, it was widely viewed as an unruly baby, spawning humongous costs and heavy compliance burdens for Corporate America. Now, on its fourth birthday, the law is being viewed in some circles as an amiable child — still difficult in some respects, it’s true, but certainly manageable.

John Hagerty, a vice president and analyst at AMR Research Inc. in Boston who has done a good deal of numbers-crunching on Sarbox-related compliance costs, prefers a different metaphor. The evolution in many companies’ responses to Sarbox, he says, resembles the stages in the way people react to a death: first shock and anger, then acceptance, and finally a sense of moving on.

Happy Birthday, Sarbanes-Oxley!

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