You can count on companies to talk about implementing cybersecurity guidelines and best practices until they're blue in the face. Truth be told, however, you won't see major changes until the law holds actual fannies to the fire.. . .
You can count on companies to talk about implementing cybersecurity guidelines and best practices until they're blue in the face. Truth be told, however, you won't see major changes until the law holds actual fannies to the fire.

After a run of corporate scandals at the likes of Enron, WorldCom, Arthur Andersen, Tyco and others, Congress enacted the so-called Sarbanes-Oxley bill in 2002.

The intent was to remedy the U.S. accounting system, which had allowed corrupt managers to take advantage of gaping holes. The new law now holds senior executives and directors of public companies responsible for the preparation and approval of their business's financial statements.

Although the final verdict on the law won't be in for several years, this much is clear: If a CEO gets caught with his or her hand in the till, Sarbanes-Oxley makes sure that there's a comfy jail cell waiting in a federal penitentiary somewhere.