Jun-07

Revamp Section 806 of Sarbanes-Oxley

Stephen G. Stroup, counsel in the firm's Philadelphia office co-authored an article published in the Pennsylvania CPA Journal regarding the Sarbanes-Oxley Act.  Congress intended Section 806 of the Sarbanes-Oxley Act to encourage and protect whistleblowers, but it appears to have not provided enough protection.  In actuality, this section may be deterring corporate employees from disclosing instances of corporate fraud, due to a lack of financial incentive to step forward, uncertain protections afforded in instances of prospective fraud, and significant administrative delays incurred in resolving whistleblower claims.

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