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Originally Posted by Cynthetiq
...The restrictions were put in place to make sure that something bad didn't happen, then again now that I consider, Sarbanes Oxley is in place to make sure bad things don't happen, and I can't tell you what a pain in the ass that regulation is and how it is styming getting things done in Corp Businesses.
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Cynthetiq.....I have no direct experience with Sarbanes Oxley.
I can draw conclusions in the same manner as ace (re: no terrorist incidents since 9/11...)
there have been no enron/tyco/worldcom type corporate scandals or major corporate financial abuses since the implementation of SOX...so it must be working 
But on a more serious note, I understand the complaints about the cost of regulatory compliance....I would suggest the cost of not regulating corporate accounting/financial practices could have proven to be more expensive to stockholders (more Enrons, etc).
Others see the hidden benefits of SOX.
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....In the view of a few open-minded firms, however, the second year of compliance turned out to be not only less costly and less difficult (as doing something for the second time often turns out to be), but a source of valuable insights into operations, which management has translated into improved efficiencies and cost savings.
The areas of improvement go well beyond technical statutory compliance. They include: a strengthened control environment;
more reliable documentation;
increased audit committee involvement;
better, less burdensome compliance with other statutory regimes;
more standardized processes for IT and other functions;
reduced complexity of organizational processes; better internal controls over business relationships with other entities;
and more effective use of both automated and manual controls. The result they are seeking to achieve is not only shareholder protection, the principal purpose of the act, but also enhanced shareholder value....
http://www.deloitte.com/dtt/article/...114561,00.html
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I would be all for a middle ground between no regs and over regulated (if that is the case) if it can accomplish the same objectives. But until such a proposal, I surely wouldnt want SOX to be repealed.