Yes, Sarbanes-Oxley was the immediate and direct result of the Enron and WorldCom debacles, and it has surely changed how public companies operate as well as how CPA firms are permitted to advise and interact with them.
It is taking a while for companies to adapt to these changes as evidenced by the difficulty experienced by many trying to implement Section 404 required internal control procedures. We are also beginning to see other, very deep changes in how public companies will be operating. I believe it is evident both in the SEC enforcement actions and lawsuits being brought by corporate investors and bondholders.
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