Halliburton executive blasts Sarbanes-Oxley Act

Spurred by fear of incarceration, US executives are neglecting better alternatives in a scramble to comply with the Sarbanes-Oxley Act of 2002, the president and CEO of Halliburton Energy Services said.The act requires principal executive and financial officers to certify corporate financial and other information in quarterly and annual reports to the Securities and Exchange Commission."Sarbanes-Oxley is the most ridiculous thing I've seen. We are spending more time doing certification processes that don't improve internal control or the quality of anything," John Gibson told some 400 oil industry and accounting participants at an energy conference sponsored by KPMG LLP in Houston...

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