COMMIT!Forum launches debate on SOX legacy
COMMIT!Forum, a Corporate Social Responsibility event, plans to hold a public debate on the corporate transparency and disclosure requirements enforced by the Sarbanes-Oxley Act (SOX).
The debate, which comes as SOX reaches its 10th anniversary, aims to asses whether the law has ‘done more harm than good’ with former US senator and co-writer of the Act Paul Sarbanes among the panellists.
“Together, policy makers and business leaders will discuss whether the Sarbanes-Oxley Act has been successful in restoring equity and professionalism to the accounting and auditing industries or if it was simply a regulatory effort which harmed the industry with unnecessary costs,” Sarbanes said.
COMMIT!Forum chairman Richard Crespin said the general public applauds transparency although the Congress continues to consider a revision of SOX.
The debate is an opportunity to “to openly discuss whether corporate transparency requirements have indeed helped the industry and whether the act went far enough - or too far in an effort to improve compliance efforts,” Crespin added.
The debate will take place on 3 October in New York.
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