Business
Happy fifth birthday, Sarbanes-Oxley
America's stringent corporate governance legislation was signed into law five years ago causing administrative burdens on directors and IT professionals alike
Five years ago today, Sarbanes-Oxley legislation was signed into law. The stringent legislation was brought in to restore public confidence in US businesses following the high-profile bankruptcy of global firms Enron and WorldCom.
But it's been a tough five years of compliance for all those involved in US-headquartered companies, with the effects frequently reaching the IT department, which has had to cope with a raft of controls.
Which IT director in their right mind would enjoy having to comply with the notorious Section 404, which laid down the horrors of Sarbanes-Oxley in full? How they wish this legislation could have been simply "Not Found".
Highlights — or could that be lowlights — from the first five years of Sarbanes Oxley follow.