US-listed companies getting to grips with Sarbox
Study finds that companies are improving in their efforts to meet Sarbanes-Oxley requirements despite the onerous nature of the compliance law
US-quoted companies have drastically cut accounting faults and are dealing
better with the Sarbanes-Oxley
millstone, a wide-ranging study has discovered .
The analysis, compiled by corporate governance publication Compliance
Week, showed that companies had significantly reduced the number of
material weaknesses found in their accounts.
Between November 2006 and May 2007, the percentage of material weaknesses
identified in the 9,700 companies polled fell to 5.9% compared with 16.7% in the
12 months to November 2005.