VIBATO Founder Issues Open Sarbanes-Oxley Letter to Republican Presidential Candidates

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Vibato believes repeal of Sarbanes-Oxley legislation would be a mistake.

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I am proud of the bipartisan process that produced this legislation. Corporate responsibility is an investor and retiree issue. It is not a partisan issue, and those who would attempt to make it so do a real disservice to all of us. - Michael Oxley

Vibato, the only provider of the fixed-price, best-practice approach to meeting Sarbanes-Oxley and SAS-related compliance requirements, has published an open letter to Republican Presidential candidates Newt Gingrich and Mitt Romney, in defense of the Sarbanes-Oxley Act and its benefits on the stability and security of U.S. public financial markets. The letter can be viewed on the Vibato blog site here.

Vibato believes this letter is important to highlight the inaccurate statements being made about the effects of Sarbanes-Oxley legislative requirements on U.S. public companies, including how repealing the legislation would somehow directly produce jobs and increase the number of initial public offerings in the U.S.

Teresa Bockwoldt, CIO and co-founder of Vibato stated, "I have personally implemented thousands of internal controls across many industries and in many countries, and I have never seen evidence of the supposed damage caused by Sarbanes-Oxley compliance being cited by Mr. Gingrich and Mr. Romney. To repeal Sarbanes-Oxley and send us back to the days of reckless financial reporting would undermine the credibility and safety of all U.S. public markets, a position that our country has worked very hard to achieve."

A video blog regarding this topic can be found here.

About Vibato
Vibato, LLC is dedicated to providing the most efficient compliance solutions available. Our mission is to help you reduce audit and compliance fees, improve financial transparency and run your business more efficiently. For more information, please visit us at http://www.vibato.com or contact us directly at mail(at)vibato(dot)com.

Vibato is a trademark of Vibato, LLC.

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Teresa Bockwoldt
VIBATO
(415) 240-4867 2300
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