The Sarbanes-Oxley Act, along with the Securities and Exchange Commission's accelerated reporting guidelines, appear to be improving the accuracy of companies' earnings forecasts, according to a report by management consultancy firm Parson Consulting.
The percentage of companies among the Standard & Poors 500 stock index that missed analysts' earnings-per-share projections by at least 10 percent fell to 29.7 percent in the 2004 third quarter -- the lowest level since Parson began the quarterly study in the first quarter of 2003.
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