Ask most C-suite executives about the Sarbanes-Oxley Act and they'll say it's an important remedy to restoring corporate trust following a string of corporate scandals. But a
new survey shows that executives are not putting their money where their mouths are. The survey, conducted by the BPM Forum, a new organization focused on business performance
management technology and practices, polled corporate board members about their attitudes, concerns and priorities when it comes to management. More than 150 board members
responded to the study. Sarbanes-Oxley, it turns out, is not atop their agendas. It doesn't even place, or show, for that matter. A few key findings:
- Only 21% of the respondents say their company has allocated funds specifically to address Sarbanes-Oxley
- Only 41% expect immediate compliance with Sarbanes-Oxley
- 33% say they're now more comfortable than they were two years ago with the performance expectations their company sets for Wall Street
- 65% are not very satisfied with the accuracy of their company's financial business forecasts
- Nearly 30% of the respondents say they don't have, or aren't sure they have, all the information they need to ensure the company discloses appropriate information