RegulationCorporate GovernanceSarbox turns five (without any fanfare)

Sarbox turns five (without any fanfare)

Controversial corporate governance rules five years old

Sarbanes-Oxley
legislation
, the tough corporate governance rules which came in to force
following the collapses of Enron
and WorldCom, has marked its fifth anniversary.

Over this time the lobby against the rules has grown with many companies
pulling out of US listings because of the stringent requirements under the act
and due to high compliance costs.

Most recently in June, three FTSE 100 heavyweights pulled out of US listings
in a seven-day period, these
being International Power, ICI and United
Utilities,

The US is now attempting to water down the rules.

Further reading:

New US committee to revise accounting rules

International Power joins US Sarbox exodus

United Utilities joins ICI in delisting from US

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