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The Sarbannes-Oxley Act (SOX) is a mandatory requirement for all listed corporations in the US, whether foreign or not. Compliance is not an option. Other countries are developing similar legislation so the books value is international in scope. SOX is a hot topic and the effects are just beginning to be felt world-wide. This new book goes beyond the implementation phase of SOX and looks at the reaction to the Act in terms of costs, benefits and business impacts. This book is for Senior Managers in the Business and Financial/Accounting Communities who want/need to know what the reaction of business and government is to the SOX legislation, what it is costing and how the effects are penetrating through the business environment.
Mike Holt presents a comprehensive review of the impact that Sarbanes-Oxley legislation has had on business, the financial community, governments and the public since its inception in 2002. The Sarbanes-Oxley Act has been somewhat successful, but not completely and the cost (well over a trillion dollars) might be considered too high a price to pay for the gains. This book takes a hard look at the costs, benefits and other impacts as well as at what influential and prominent financial, government and business leaders think about it now.
• International in scope and content and including interviews with prominent business leaders, CEOs and CFOs of large and small corporations.
• Compliance with The Sarbanes-Oxley Act is now mandatory for every listed US corporation and overseas corporations listed on US stock markets.
• Covers the reaction of business and government to this legislation, what it is costing and how the effects are penetrating through the business environment.
Introduction; Chapter 1. Background; Chapter 2. The impact on large corporations; Chapter 3. The impact on small corporations; Chapter 4. The impact on the financial community; Chapter 5. The impact on accountants and auditors; Chapter 6. The impact on governments; Chapter 7. The impact on the public; Chapter 8. Soxpacked; Chapter 9. Conclusions. Index.