"When the cost of a new control is small compared with the legal exposure it covers, CIOs will implement the control. But this has always been true. Sarbanes-Oxley doesn't change anything. I predict that Sarbanes-Oxley will still be the law of the land 20 years from now. I further predict that it will have no effect whatsoever (other than causing a bit of panic in the first year or two) and will eventually be universally ignored. It will be like the blue laws still in existence in most states that prohibit a Wal-Mart from being open on Sundays, even though Wal-Mart is open on Sundays in all 50 states."
- Tom Demarco
Thursday, October 11, 2007
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2 comments:
It is my thoughts that Sarbanes-Oxley is like other good ideas that have only went arid. Just like "No Child Left Behind" - great concept, poor implementation! Keep testing and your child will never be left behind. Your child will never be left behind, but your child will never be able to think independently, neither.
The enactment of Sarbanes-Oxley, is the first time in my life which I have seen that entire departments created, an entire industry created. Which only makes you ask - who is benefiting more from the creation or justification of such an act - the companies required to implement or the companies which are consulting with companies on the “proper” implementation of SOX?
Which side of the dollar would you want to be on?
I can't agree more. Thanks for your wonderful insights.
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