Fathers of Landmark Sarbanes-Oxley Act to Discuss Law, Address Practitioners at ACFE Fraud Conference
June 28, 2007 - AUSTIN, TX - The Association of Certified Fraud Examiners (ACFE), the global leader in anti-fraud education and training, announced today that the authors of the Sarbanes-Oxley Act, former U.S. Sen. Paul Sarbanes and former U.S. Rep. Michael Oxley, will make a rare joint appearance as keynote speakers at the ACFE's 18th Annual Fraud Conference, which runs from July 15-20 at Disney's Coronado Springs Resort in Orlando, Fla.
In the wake of the Enron and WorldCom scandals, the Sarbanes-Oxley Act (SOX) was created to enhance controls and oversight of public companies in an attempt to protect shareholders and investors.
Five years after SOX was implemented, the "fathers" of the law will discuss its creation, effectiveness and the changes they foresee in the future during the opening session of the Conference on July 17 at 8:30 a.m. Following their remarks, auditors, investigators and other anti-fraud professionals will have the opportunity to present their prepared questions about the law to Mr. Sarbanes and Mr. Oxley in a special Q&A session.
The media is invited to attend the event, and to participate in a follow-up media briefing with the former lawmakers.
The landmark legislation, officially known as the Public Company Accounting Reform and Investor Protection Act of 2002, requires public companies to regularly assess and update their internal controls in order to prevent fraud and financial misstatements. It also provides protections for corporate whistleblowers.
With five years of SOX history, the questions continue: Is it working effectively? Are the costs of compliance excessive in light of the gains achieved by the Act? Are recent changes to ease some of the more stringent rules appropriate? As with any complicated issue, there are no easy answers.
"Whatever your position on Sarbanes-Oxley, it's here to stay," said James D. Ratley, Certified Fraud Examiner (CFE) and President of the ACFE. "The changes brought about by this historic law have had, and continue to pose, dramatic effects, not only on companies, but on accountants, auditors and anti-fraud professionals.
â€œThe ACFE is delighted to give our members a chance to get the inside story on this law from the two men who shaped it," added Ratley. "Their insights, assessments and expectations as Sarbanes-Oxley moves forward will be welcome information to all of us committed to fighting fraud."
About the 18th Annual ACFE Fraud Conference & Exhibition
In addition to a lineup of compelling keynote speakers, the Fraud Conference offers more than 60 educational sessions for anti-fraud professionals, interactive panel discussions led by industry experts and an Exhibit Hall featuring more than 60 exhibitors. Three eras of fraud will be on display at the traveling exhibit of the ACFE's Fraud Museum, and a new Career Fair will provide opportunities for professional growth and networking among attendees and employers. For more information about the Fraud Conference, visit http://www.fraudconference.com.
Contact the ACFE
For more information, email PR@ACFE.com.