Highly recommend this read:
http://www.zerohedge.com/article/matt-taibbis-latest-why-isnt-wall-street-jail
For those of you that spent countless hour preparing for Sarbanes-Oxley compliance and labored night and day, rest assured... it has accomplished nothing... Your only consolation is that is many of you have found gainful employment because of of SOX.
Actually, to be fair, SOX has greatly increased the awareness of, documentation of, and execution of internal controls for many organizations. It has not, however, helped cure the systemic fraud which was part of what lead to SOX.
Regards,
Jeffrey T. Hare, CPA CIA CISA
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