One positive result of the Sarbanes-Oxley legislation is the additional work that it generated for accounting firms. It is not only with regard to reviews of a company's internal controls, but also non-audit services that a public company's auditor is prohibited from performing, as well as tax planning and tax preparation engagements for those companies and their key officers.
This work is welcome and lucrative. And to think in part this work is attributable to legislative reaction to the Enron and WorldCom accounting scandals and the demise of Andersen. So maybe despite the millions lost, some good is coming out of a very dark time for the accounting profession when its "most trusted" reputation came under attack.
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