| The panel presenting the market's reaction to 404 so far seems quite upbeat overall about how things have gone. And there seems to be little inclination here to put Sarbox into reverse.
The most compelling point by my lights was the observation made by Gregory Jones, managing director of Moody's Investors Service, that the benefits of good controls go beyond greater investor confidence.
In talking with corporate management about controls, Jones said he frequently hears that better financial controls lead to improved business practices, and that that leads to better returns. So maybe the research we and others have cited understates the benefits.
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