|
Sarbanes-Oxley News
Article:
UGA study finds surge in director pay following landmark Sarbanes-Oxley Act of 2002
Corporate boards are now larger and more independent thanks to the Sarbanes-Oxley Act (SOX), according to a University of GA study. Sarbanes-Oxley made being a corporate director harder by mandating specific guidelines for boards, including increased workloads and increased legal liability. SOX compliance also had the effect of raising director pay by more than 50 percent, with small companies paying more per net sales.
The Sarbanes-Oxley Act also has made audit committees work much harder, leading sometimes to increased pay for the directors on these committees. SOX compliance may not be the only reason for these changes which also coincided with the start of a recession, according to the study. The authors point out that other ramifications of Sarbanes-Oxley may include companies deciding to go private or list overseas to avoid the costs of SOX compliance.
The Sarbanes-Oxley News Article
About OpenPages
OpenPages is the leading provider of Governance, Compliance and Risk
Management solutions
for Sarbanes-Oxley Compliance, Financial Controls Management, General
Compliance Management, Operational
Risk Management and IT
Governance.
The company’s solutions provide the visibility, decision support and
control to improve accountability, better manage risk, achieve compliance
with numerous regulations, improve operational performance and align strategies
to ensure better results.
Market-leading corporations in financial services, manufacturing, telecommunications,
media/entertainment, retail/consumer, energy, high technology, health services
and life sciences rely on OpenPages to help them achieve sustainable governance,
risk and compliance management -- enabling them to become well-governed businesses.
Founded in 1996, the company is headquartered in Waltham, Massachusetts, with
regional offices throughout North America and international offices in London, Munich, Paris, Tokyo and Hong Kong.
For more information on OpenPages' suite of business governance software solutions
or to register for an online demonstration, please call 781-693-5999 or visit
www.openpages.com.
Reynolds American Selects OpenPages FCM for Sarbanes-Oxley Compliance.
|
