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Republican fires Sarbanes-Oxley warning

Republican fires Sarbanes-Oxley warning

by Rick Turoczy on August 15, 2006

A US congressman has voiced concerns over the effect Sarbanes-Oxley legislation is having on the country’s economy.

Tom Feeney, a Republican, was reported as saying that the accountancy compliance law had led to an “outsourcing of America’s 100-year lead in capital formation”, in the Financial Times.

Purchasing software can help facilitate compliance to accounting regulations. When using traditional methods however, Sarbanes-Oxley laws are time-consuming and increase accountancy expenses, according to Mr Feeney.

Republican fires Sarbanes-Oxley warning

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