After five years of pain coming to grips with the Sarbanes-Oxley regulations, companies are beginning to be accustomed to the new landscape.
In a recent survey by Eversheds LLP only three percent of top executives had Sarbanes-Oxley as their top item of concern.
But that’s not to say that companies have all the kinks worked out in dealing with compliance issues.
If anything companies are more concerned with regulations on the global scene as opposed to those specific to the United States.
Twenty percent say that their efforts to achieve global compliance have been “fair to poor” and 56 percent say that they need to
improve their global compliance programs.
Interestingly, 69 percent of the CEOs felt that the increased regulations following the Enron scandals hasn’t had much effect on motivating companies to limit wrongdoing.
Other findings of the report include:
- 40 percent are feeling pressured to keep up to date with quickly changing regulations
- 60 percent feel that US regulations make companies less competitive globally
- Compliance is on executives radars for the following reasons:
42 percent worry about a damaging crisis
27 percent are concerned with fines and penalties
