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Without question, Sarbanes-Oxley has had a profound effect on companies whose shares are traded on U.S. exchanges—and few company executives seem to think the changes have been positive ones. There’s widespread concern about the cost of compliance: it’s too costly, too onerous, has too much red tape, and provides too many distractions from the real purpose of an enterprise. Perhaps nowhere has the legislation affected companies as profoundly as at the board level; a recent survey of nearly 200 CFO magazine readers finds modest board turnover, increased board workload, and more board interaction with the company’s finance team.