SOX SUX! While Sarbanes Oxley doesn't really cause me any more direct work, it is going to kill the US economy. The whole purpose of SOX is to prevent fraud and scandals such as Enron and MCI-Worldcom. To fully comply with SOX publicly traded companies need to spend millions a year to comply. Not only does that make a huge cost, but it also prevents a great number of private companies from becoming public.
Wouldn't it just be simpler to offer a reward to whistle blowers? Can you tell me that no Enron underling knew what was going on. If whistle blowers where protected and rewarded, then you could easily be MORE effective in preventing these scandals.