Financial Execs Lose Confidence In SOX

Law360, New York (July 29, 2008, 12:00 AM EDT) -- Financial executives have less confidence in the Sarbanes-Oxley Act's effectiveness in reducing fraud and are seeking better ways to fight fraud and lower the cost of compliance, according to a report issued Tuesday by a provider of automated transaction monitoring software.

The 2008 Executive Oversight Systems Financial Report On Sarbanes-Oxley surveyed approximately 100 financial leaders from around the U.S. who serve as chief financial officers, chief audit executives, controllers, vice presidents, directors and internal auditors.

The executives' confidence in Sarbanes-Oxley's effectiveness fell to a new low...
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