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Happy Birthday, Sarbanes-Oxley!

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The Sarbanes-Oxley Act was signed into law five years ago today. Our friends over at Audit Trail have been counting down all this month -- check out the singing CPA when you need a laugh.

 

And today, researchers at Pepperdine University's Graziadio School of Business and Management released survey results indicating that the majority of investors who participated think the rigid corporate reporting requirements are right on the money -- and some of them wish the penalties for violations were tougher.

 

Earth Times reports that 57 percent of survey participants think the restrictions in Sarbanes-Oxley are "about right;" 31 percent don't think they go far enough. And nearly 90 percent of respondents say officers or board members convicted of "practices harmful to employees, shareholders and the public" should serve mandatory jail time.

 

Interestingly, only 8 percent of those surveyed think Sarbox goes too far.

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