EXECUTIVE SUMMARY
- More than three-quarters (77%) of the private organizations responding to the study indicated that the Sarbanes-Oxley Act or other corporate governance reform requirements have impacted their organizations.
- While a majority of these private organizations said that the governance standards were self-imposed, other common factors influencing the decision to adopt these standards included pressure from board members or auditors.
- Many private organizations planned to adopt or have already adopted several measures in response to the Sarbanes-Oxley Act:
- CEO/CFO financial statement attestation (44%)
- Establishment of whistle-blower procedures (40%)
- Board approval of non-audit services by auditors (43%)
- Adoption of corporate governance policy guidelines (40%)
- More than three-quarters (83%) of private organizations responding to the survey felt that corporate governance reform...
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