Before talking about either the impact or the need for Sarbanes-Oxley, I think it would be helpful to briefly review what the Act covers.
Despite all the talk about transparency and disclosure, most of Sarbanes-Oxley is about the regulation of auditors, from the creation of the Public Company Accounting Oversight Board to requirements on auditor rotation and restrictions on the provision of non-audit services.
(Editor's Note: Remarks at the COMMIT Forum, New York, NY. October 3, 2012)
Yes, there is title 4, the one out of 11 titles, that deals directly with disclosure and perhaps the most infamous section, 404, which...