GAO: SOX Halts IT Investments
COMPLIANCE TECHNOLOGIES
NEW YORK—Costs associated with the implementation of the Sarbanes-Oxley (SOX) Act have prompted some financial services firms to cancel or defer their IT investments, according to a report from the U.S. Government Accountability Office (GAO).
The 2002 legislation was signed into law amid a wave of accounting-related scandals at major U.S. companies like Enron and WorldCom. U.S. lawmakers sought to establish stricter reporting standards for public companies, which ultimately trickled down to how
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