{"id":379,"date":"2007-09-05T06:25:32","date_gmt":"2007-09-05T14:25:32","guid":{"rendered":"http:\/\/www.formtek.com\/blog\/?p=379"},"modified":"2007-09-05T06:25:32","modified_gmt":"2007-09-05T14:25:32","slug":"sarbanes-oxley-the-unsung-benefits","status":"publish","type":"post","link":"https:\/\/formtek.com\/blog\/sarbanes-oxley-the-unsung-benefits\/","title":{"rendered":"Sarbanes-Oxley: The Unsung Benefits"},"content":{"rendered":"<p>In an op-ed piece in the Wall Street Journal, Thomas Healey, senior fellow at Harvard University&#8217;s Kennedy School of Government, outlines benefits and positive results coming from Sarbanes-Oxley legislation that he thinks many are over-looking:<\/p>\n<ul>\n<li>The US economy, rather than being stunted by over-regulation, has increased 67% or $4.2 trillion in market value between June 2002 and June 2007.<\/li>\n<li>AMR Research found that companies have had to pony up $6 billion in 2006 to comply with Sarbanes-Oxley.  But Healey points out that in the Enron case alone that shareholders lost $60 billion.\u00a0 It&#8217;s a form of insurance and a best practice.<\/li>\n<li>A report from Moody&#8217;s shows that company&#8217;s internals controls and procedures have dramatically improved over the last five years.<\/li>\n<li>Audit fees, while initially high after implementing Sarbanes-Oxley, decrease with each year after implementation.<\/li>\n<li>There is an implicit agreement by many that Sarbanes-Oxley is the right thing to do.  Japan, France, Canada and China are copying the legislation.<\/li>\n<\/ul>\n<p><!--9b469e60cbf676882ed0f18a8cde5c4b--><\/p>\n<div class=\"lightsocial_container\"><div class=\"lightsocial_element\"><a class=\"lightsocial_a\" href=\"http:\/\/digg.com\/submit?url=https%3A%2F%2Fformtek.com%2Fblog%2Fsarbanes-oxley-the-unsung-benefits%2F&amp;title=\" target=\"_blank\"><img decoding=\"async\" class=\"lightsocial_img\" src=\"https:\/\/formtek.com\/blog\/wp-content\/plugins\/light-social\/digg.png\" alt=\"Digg This\" title=\"Digg This\" \/><\/a><\/div><div class=\"lightsocial_element\"><a class=\"lightsocial_a\" href=\"http:\/\/www.reddit.com\/submit?url=https%3A%2F%2Fformtek.com%2Fblog%2Fsarbanes-oxley-the-unsung-benefits%2F&amp;title=\" target=\"_blank\"><img decoding=\"async\" class=\"lightsocial_img\" src=\"https:\/\/formtek.com\/blog\/wp-content\/plugins\/light-social\/reddit.png\" alt=\"Reddit This\" title=\"Reddit This\" \/><\/a><\/div><div class=\"lightsocial_element\"><a 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