New York (July 29, 2003) -- As the passage of the landmark Sarbanes-Oxley Act is poised to celebrate its first anniversary, former Securities and Exchange Commission Chairman Arthur Levitt told WebCPA that above all, the legislation has effectively “changed the culture of the boardroom.”

“There has been a shift in power from management to the board because of it, (Sarbanes-Oxley),” Levitt said. “And that’s partly out of respect and partly out of fear.”

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