Since Sarbox, Non-audit Fees Dove from 51% to 21%

 

Remember the Sarbanes-Oxley Act? In the furor over the current financial meltdown and its attendant cries for stiffer regulations, good old Sarbox has largely faded from the news. But according to a new study, one of its most prominent provisions — the one that seeks to insure auditors’ independence by forcing them to focus less on raking in fees for services unrelated to audits — seems to have succeeded smashingly well.

 

The auditor-independence law has proved remarkably efficient in keeping accountants focused on audits.  For the complete article and information, go to: http://www.cfo.com/article.cfm/13634614/c_13610376?f=home_todayinfinance