Wednesday, August 03, 2005
CEOs Say SOX Makes Better Boards; NYSE Survey Outlines 2006 Business Challenges
Compliance and governance issues are a major preoccupation with CEOs, but the rules have resulted in better boards of directors, according to a NYSE survey.
Eighty percent of the 100 CEOs surveyed for the "NYSE CEO Agenda 2006" said they spend more time on regulatory and compliance issues than five years ago. Almost 70 percent find compliance with section 404 of Sarbanes-Oxley the most demanding governance task, and while a majority of CEOs question the balance between the investment required and the resulting benefits, most CEOs agree that Sarbanes-Oxley and Exchange governance rules have contributed to board members being more informed (66 percent) and better engaged (72 percent).
"Anything that's going to regain investor confidence in Corporate America is worth it," said Richard Harrington, President & CEO of The Thomson Corporation.
posted by Brian Moran @ 10:17 AM