New York (March 27, 2003) -- While implementation of Sarbanes-Oxley has resulted in changes in controls and compliance practices at nearly 85 percent of large U.S. multinational companies, only about a third of executives at those companies believe the new law will restore investor confidence in the markets or aid their companies' ability to create shareholder value, according a survey by PricewaterhouseCoopers.

Most senior executives (42 percent) who participated in the quarterly Management Barometer survey characterized Sarbanes-Oxley as “a well-meaning attempt, but will impose unnecessary costs on companies.” Thirty-three percent said it’s “a good first step in company accounting and reporting, but more needs to be done.” Another 15 percent said it was “ill-considered and hastily-passed legislation that won't make any difference,” while 9 percent said the act is “a good and adequate response to problems in accounting and reporting.” One percent said it “will actually harm rather than improve the capital markets.”

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access