The Sarbanes-Oxley Public Company Accounting Reform and Investor Protection Act of 2002 was triggered by several high-profile incidents of corporate malfeasance. The legislation introduced major changes to corporate governance, financial practices in the public sector, and the relationship between companies and their accountants.

Supporters of Sarbanes-Oxley claim it has done what it was meant to do: it has improved investor confidence in the financial sector and increased personal responsibility for the most senior corporate officers. Critics, however, claim that Sarbanes-Oxley has created major costs for public companies, turned accountants from advisers into adversaries, encouraged both American and foreign companies to leave U.S. capital markets, and contributed to our more recent financial crisis.

At this event, former Speaker of the House of Representatives and AEI senior fellow Newt Gingrich will discuss the role Sarbanes-Oxley played in our more recent financial crisis. Hans Bader, senior attorney and counsel for special projects at the Competitive Enterprise Institute, and Harvey L. Pitt, chief executive officer of the global business consulting firm Kalorama Partners, LLC, will shed light on the challenges firms are faced with due to Sarbanes-Oxley. AEI resident fellow Alex J. Pollock will also comment. Kenneth Green, acting director of the AEI Reg-Markets Center, will moderate.