On Monday, December 14, 2009, the Supreme Court will begin hearing oral arguments to determine if the Sarbanes-Oxley Act is unconstitutional.
Since its enactment in 2002 (a direct result of the Enron scandal), many businesses have lamented its effects on their companies. Smaller organizations, especially, have felt particularly strapped by SOX’s compliance rules and regulations.
Of course, whether or not Sarbanes-Oxley can been deemed as against the U.S. constitution may ultimately be in the eye of the beholder. The case being heard on Monday, which news outlets are touting as “the most important separations-of-powers case in decades”, will surely have worldwide ramifications depending upon its outcome.
I’d like to hear your thoughts on the subject. Have you been affected by SOX? Have you known others who are (such as vendors or clients)? Do you feel it’s unconstitutional?
Tags: Compliance Rules, Decades, Enactment, Enron Scandal, Eye Of The Beholder, Oral Arguments, Ramifications, Sarbanes-Oxley Act, Separations, Supreme Court, U S Constitution
