Sarbanes-Oxley & Section 404: Old Dog / New Teeth

by Gerry M. Czarnecki

As a top executive at IBM during its resurgence in the 1990s, and as a director of State Farm Insurance, Gerry Czarnecki has a keen and long term perspective on trends in corporate governance. In this Viewpoint he argues that much of Sarbanes-Oxley already existed as a federal statute long before anyone heard of Ken Lay, and that the entire business that howls about the new legislative strictures has only itself to blame for ignoring that law.