SOX under fire?
Kenneth Starr of Monicagate fame is going after the PCAOB (paywall warning). This is the regulating authority set up by the SOX act. If he and his “free-enterprise” cronies could get it declared unconstitutional, SOX could be history.
As someone who has suffered the death of a thousand cuts that is a SOX audit, I wish them the best of luck. I’m sure that US business needed chastisement after Enron, but SOX goes way too far in the other direction. It’s like a farce, a parody of bureaucratic interference in business practices.
Posted at 22:27,
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