Lawrence A. Cunningham a professor of Law & Business at the Boston College wrote a research paper way back in 2002 called "The Sarbanes-Oxley Yawn: Heavy Rhetoric, Light Reform (And it might just work)". The research paper talks about the intent of the sarbanes-oxley act and how it will change the way auditing will be done in the future.

Its interesting to look back when the act was written and the comments it received then. SOX is now in its fourth year and companies still are having tough times coping with the amount of work. Professor Cunnigham concludes that the act is loud but not deafening; non-trivial but not far more reaching than any reforms since FDR. Maybe it deserves a B+.

My two cents, four year down the line, as companies comply with the SOX act, atleast it gives the investors security that some action is being taken to ensure better corporate reporting. Whether Sarbanes OXley has actually achieved its purpose, well you the reader are the judge!

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