The US Chamber of Commerce, one of the few lobbying group in the country, has said the act will create litigation chaos.
In an interview with the Financial Times, the Chamber’s chief economist Martin Regalia said the law had been hastily drafted by a variety of different authors cobbling together a host of last minute amendments.
He added it will have unintended consequences such as increased bureaucracy and rampant litigation, which will in the end do more harm than good.
The Act was introduced following a spate of accounting disasters at high-profile companies like Enron, WorldCom and Adelphia and is aimed at restoring investor faith in corporate America by tightening up corporate governance and financial control.
Revenue and profitability growth in on the rise for CPA firms, found a survey from the American Institute of CPA’s and its subsidiary CPA.com
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Carter Backer Winter has acquired Edwards Financial Services, expanding its financial planning department
New growth opportunities in Aberdeen, North East Scotland, are being invested in by Grant Thornton