Cupertino, Calif. (Jan. 30, 2004) -- Three in five investors (59 percent) believe the Sarbanes-Oxley Act will help protect their stock investments, while 57 percent said they would be very unlikely to invest in a company that failed to comply with the act, according to a recent survey.
In addition, the majority of stockholders want to see punishment for those who violate the law, according to the poll of 1,022 investors by Harris Interactive and Movaris, a Cupertino, Calif.-based provider of corporate compliance management software.
Four in five stockholders said a chief executive and/or chief financial officer who violates the act should be banned from ever serving on the corporate board of directors for other public companies. Additionally, seven in 10 stockholders said they want a penalty with both jail time and a fine for violating companies.
“Investors will appreciate companies committed to Sarbanes-Oxley compliance programs as we approach upcoming deadlines,” said Kurt Garbe, president and CEO of Movaris. “Our customers already realize the value of good governance, and the importance of extending their programs to address investor confidence for years to come.”
-- WebCPA staff
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