Companies Still Complaining About The Sarbanes Oxley Tax
from the the-cost-of-scams dept
The lasting impact of the corporate scandals from a few years ago may not be that corporate executives are any more ethical these days, but plenty of other companies are being punished for the misdeeds of those who came before them. We noted a while back that the Sarbanes-Oxley “tax” was slowing down innovation, by making it much more expensive for companies to do business, while also creating a “cover your ass” culture, rather than a risk-taking one. Now, a new study suggests that Sarbanes-Oxley compliance is slowing down tech purchasing, as big corporate CFOs need to spend more time reviewing documents that they don’t have time to sign off on new tech spending. Admittedly, some of the complaints are clearly just whining from companies who are having problems for a variety of reasons. It is important that corporate execs be held more accountable for misdeeds, but that doesn’t mean everyone should be punished.
Comments on “Companies Still Complaining About The Sarbanes Oxley Tax”
Any CFO that can’t do both shouldn’t be CFO. You should know your fianicals and be able to approve spending to increase productivity. That’s like saying I’m spending so much time testing for bugs that I don’t have time to fix them.
Sarbanes-Oxley is KILLING IT creativity and action
We are a private development company who is seeing their public client companies slow to a CRAWL! Implementing bug fixes, upgrades, and general goodies is a nightmare. I imagine it will eventually drag our sales cycle out so far that even we will struggle to stay in business.