Which companies have delisted due to SOX compliance costs? 1442



  • Dear All
    I am doing a dissertation on the impact of SOX on both US and non-US corporations and need to know the names of those companies (US and non-US) that have delisted due to high cost of compliance with SOX s404. Does anyone know where I can get hold of such info?
    Thanks
    Lila



  • Hi,
    Your question was previously discussed on this Forum. It may be found at:
    http://www.sarbanes-oxley-forum.com/modules.php?name=Forums-and-file=viewtopic-and-t=1292
    Good luck on your paper,
    Milan



  • Hi,
    Thanks for your reply that was helpful. Do you know if there is a list of companies that have deregistered from NYSE.
    Also do you or anyone else knows where to get the information about those companies that have disclosed material weaknesses in their reports after complying with SOX s404. I tried to look at few companies’ annual reports as well as their Form 8-K and 10-K, but I found this quite time consuming task. Is there any website that would have such information as I really need to get hold of such info.
    Your help would be greatly appreciated.
    Thanks
    Lila



  • Hi,
    Sorry, but I am not familar with a list of companies that have delisted from the NYSE. You might try some financial information databases such as Hoovers.com, etc.
    Yes, scanning through SEC reports (8-K, 10-K) by company is an inefficient way to identify companies that have disclosed material weaknesses in their reports after complying with SOX.
    You might try contacting the author of the following report to see if the report can be shared with you for educational purposes.
    The report:
    The Disclosure of Material Weaknesses in Internal Control after the
    Sarbanes-Oxley Act
    Weili Ge
    Accounting Ph.D. Student
    Ross School of Business
    University of Michigan
    701 Tappan Street
    Ann Arbor, MI 48109
    (734)7363529
    geweili_at_bus.umich.edu
    Hope this helps,
    Milan



  • Lila:
    In re your question:
    Also do you or anyone else knows where to get the information about those companies that have disclosed material weaknesses in their reports after complying with SOX s404. I tried to look at few companies’ annual reports as well as their Form 8-K and 10-K, but I found this quite time consuming task. Is there any website that would have such information as I really need to get hold of such info.
    The best consolidated source of information that I have seen is [url]www.karlnagel.com[/url]
    Karl tracks SOx compliance (both the effectiveness of management’s evaluation and material weaknesses) by company. There is a subscription (fee), but he may discount if you cite him as a source, especially of you plan to publish your dissertation in the trade journals. He may also be able to run specific queries for you and provide that information.
    Hope this helps.
    John


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