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The purpose of this study was to investigate the impact of the U.S. Sarbanes-Oxley Act of 2002 Section 404 internal control reporting and assurance requirements on the performance of small- and medium-sized enterprises.
The results indicate that effective enterprise risk management (ERM) processes should be an integral part of an organization’s strategic vision and operations. Well-controlled companies that manage their risks are shown to have better strategic flexibility, better performance, and enhanced value. Ultimately, the results suggest that the Sarbanes-Oxley Section 404 compliance process helped most organizations and that better controls lead to more successful businesses.
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