Area firms say legislation expensive, but necessary.(Business)

0 Comments | Daily Herald (Arlington Heights, IL), July, 2003 | by Comerford, Mike

Byline: Mike Comerford Daily Herald Business Writer A sampling of a few local firms shows the one-year-old Sarbanes- Oxley Act is proving expensive, bureaucratic and confusing but backers praise it as the first step toward reforming corporate America. "It's not quite clear yet what needs to be done," said Dario Sacomani, chief financial officer of the LaFox-based electronics firm.

"But it's going to be big." In the aftermath of a slew of corporate scandals at companies such as Enron and WorldCom, the Sarbanes-Oxley Act was enacted a year ago today to guard against such disasters and calm investors. Originally, critics said the act would be a major headache for large corporations and a financial burden on smaller firms. However, a look at three local...