Sarbanes-Oxley Added Value
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Sarbanes-Oxley has had an expensive first year. Asset management firms have had it as bad anyone. Whether trading on their own or others behalf, the investment process is full of potential internal control weaknesses. Research from the Tower Group suggests that asset managers have plentiful useful data on their internal processes. Companies can use the information to improve their internal controls. Internal control frameworks, adding external audits and presenting arguments for new or better integration existing technology solutions. The Tower Group found it difficult to quantify internal costs at investment management firms are impacted by the Act directly or indirectly. Tower believes that some value will be recovered by managers that gain business intelligence. Process and technology enhancements will come through as a result of Sarbanes-Oxley. A new TowerGroup report titled, "Sarbanes-Oxley Compliance After Year One: What Do Investment Managers Do Next?" by Peter Delano, a senior analyst in the Investment Management research service, reviews the impact of the Sarbanes- Oxley Act on the asset management industry, a year into the legislation.
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