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Roll Back Burdensome Sarbanes-Oxley Accounting Rules

Agenda for Congress

Title

Roll Back Burdensome Sarbanes-Oxley Accounting Rules

Full Document Available in PDF

“How can we have these levels of fictions in financials after Sarbanes-Oxley?” asks Jim Cramer, the colorful host of CNBC’s “Mad Money.” Maybe because Sarbanes-Oxley (known as Sarbox) is an inherently flawed law: costly to entrepreneurs and investors, and counterproductive at ensuring financial transparency. As the Financial Times noted, the inordinate amount of time boards of companies such as the former Bear Stearns spend on Sarbox compliance came at the expense of their scrutinizing overall business risk.