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
Petaluma, CA (PRWEB) March 23, 2012
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.
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