"When the Sarbanes-Oxley Act was passed in the summer of 2002, largely as a rushed reaction to Enron, it did get a few key things right. Notwithstanding the long debate we’ve had about cost/benefit or why it didn’t prevent the subprime crisis or large frauds such as Satyam and Madoff, , both of which are derivative discussions for later, there were a few important changes that still make a difference. We can’t allow time, or fuzzy academics, to let us forget the good reasons for having made them..."
read entire article
Source: re: The Auditors