The Sarbanes-Oxley Act of 2002, which President Bush signed into law last year, represents an ambitious effort by Congress to address many data retention and preservation issues arising from the Enron and Arthur Andersen debacles. In addition to creating a new and apparently powerful Public Company Accounting Oversight Board (“Oversight Board”) and addressing corporate responsibility issues, th...

New corporate compliance regulations such as the Sarbanes Oxley (SOX) Act of 2002 contain requirements for the chief executive and financial officers to certify the effectiveness of internal controls and processes leading to financial reporting. An inevitable result of implementing compliance with these regulations is an increased focus on improving systems and greater interdependence between t...

Sarbanes-Oxley (SOX) Act stipulates specific roles for the CEO, CFO, and the Auditor. However, the role of the Chief Information Officer (CIO), usually in charge of IT governance (ITG), is implicit. This is despite the fact that in many firms, accounting and financial information and reporting systems either incorporate or are embedded in sophisticated information systems. Through a discussion ...

Negotiated Shareholder Value: The German Version of an Anglo-American Practice

This paper examines cross-listing behavior onto U.S. and U.K. stock exchanges following the enactment of the Sarbanes-Oxley Act, and tests two propositions. First, has the rate of foreign cross-listings onto U.S. exchanges decreased in the period following the enactment of the Act? Second, are foreign exchanges in particular, the London Stock Exchange attracting foreign firms in the post-Act pe...