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Sarbanes-Oxley: Is it Worth the Cost?
Friday, April 06, 2007
Large
corporations complain about the costs associated with Sarbanes-Oxley compliance,
but it's the smaller companies that are hit the hardest. In this report
from the NBR Special "Sarbanes-Oxley: Five Years Later," Correspondent
Erika Miller visits
the Vermont Teddy Bear Company -- a small firm that went private after
seeing the SarbOx price tag.
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| Related
NBR Stories & Links |
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| External
Links/Articles* |
- "The
Costs & Benefits of Sarbanes-Oxley Section 404"
This is the transcript of a March 2005 speech given by Daniel L. Goelzer,
a member of the Public Company Accounting Oversight Board (PCAOB). The
PCAOB was created by the Sarbanes-Oxley Act "to oversee the auditors
of public companies."
- Office
Depot
Office Depot is "is a global supplier of office products and services."
The company's CEO, Steve Odland, is interviewed in Erika Miller's report.
- Sarbanes-Oxley
Act of 2002 (PDF Document)
The full text of the Sarbanes-Oxley Act of 2002 as prepared during the
107th Congress of the United States. This document download is hosted
by the University of Cincinnati College of Law.
- "Sarbanes-Oxley
Section 404 Costs and Implementation Issues: Survey Update"
(PDF Document)
This survey of Fortune 1000 companies is made available for
download by the University of California, Berkley School of Law. It
was prepared by CRA International at the request of America's major
accounting firms.
- U.S.
Chamber of Commerce
The U.S. Chamber of Commerce is a "business federation representing
more than 3 million businesses of all sizes, sectors, and regions."
The organization recently recommended easing Sarbanes-Oxley requirments.
This links to the U.S. Chamber of Commerce's Center for Capital Markets
Competitiveness, which includes a link to its latest report on the "Regulation
of the U.S. Capital Markets in the 21st Century."
- "The
Value Proposition"
This article was published in the September 2005 edition of the American
Institute of Certified Public Accountants' Journal of Accountancy.
The article is subtitled, "There’s more to Sarbanes-Oxley
compliance than meets the eye."
- Vermont
Teddy Bear Company
This maker of hand-crafted teddy bears is profiled in Erika Miller's
report, which includes an interview with the company's CEO, Elisabeth
Robert.
*Clicking these
external links will take you off the NBR web site on PBS.org. NBR has
no affiliation with these sites.
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