U.S. News editor Mortimer Zuckerman finds plenty of them as he examines the impact of Sarbanes-Oxley.
It is reasonable to ask whether doubling the costs [of corporate audits] has yielded double the benefits-except for providing a bonanza and a fat retirement plan for accountants, auditors, and lawyers. The onerous costs of Sarbanes-Oxley, moreover, fall disproportionately on small- and midcap companies-the very ones that provide the innovations and entrepreneurship we rely on for economic growth. That one straw might not break the camel’s back, but there are more.