A new compliance survey by international law firm Eversheds has revealed that Sarbanes-Oxley has been supplanted at the top of many global CEOs' priority lists. In fact, only 3 percent of those attending Eversheds' Global Compliance Conference said Sarbox compliance is their first or second concern. The majority (56 percent) of attendees said their global compliance efforts were their primary concern.
According to SYS-CON Media:
The heads of legal and compliance departments at large global companies face an increasingly far-flung business sphere in which to educate, monitor and prevent [Foreign Corrupt Practices Act] infringement, governance lapses and wrongdoing by their partners, agents and contractors worldwide.
At the same time, survey participants also indicated that the impact of U.S. regulations on international business is inappropriate:
More than one third (35 percent) ... said the enforcement of U.S. laws and regulations for companies acting internationally over the last two to three years was too aggressive, while 37 percent conceded it was aggressive but necessary; only 15 percent claimed it was appropriate.