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Luis AguilarSecurities and Exchange CommissionUniversity of CaliforniaBerkeley Center for Law, Business and the Economy
The lack of enforcement over SOX's first five years ultimately incentivized CEOs and CFOs that were required by law to reimburse issuers to not do so, Aguilar said, adding, "There may have been far fewer companies restating their financial statements due to a dressing up of the numbers--and far fewer investors harmed--if this law had been enforced."
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright © 2010 Institutional Investor
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
