: About Me

The Sarbanes-Oxley Act has done little good while greatly increasing auditing costs, especially on small corporations. The logic behind Sarbox was good - make sure companies have adequate internal and external controls to ensure financial statements are honest and accurate - but like many laws that are passed as a knee-jerk reaction to something, it was like using a shotgun to try to kill a mouse. Sure, the fraud fiascoes that occurred at Enron and Tyco might not have happened if Sarbanes-Oxley had been in place at the time, but the law sure didn't stop the subprime mortgage mess. It didn'...