From Biden's website:
Cost of Corporate Fraud Far Outweighs Cost of Legal Compliance Published: 02/15/2007 Sarbanes-Oxley helped restore confidence in American companies by holding corporate executives more accountable for their record-keeping and financial reporting, improving the quality of corporate auditing, and requiring greater transparency of companies' financial statements. And despite claims to the contrary, the evidence shows that Sarbanes-Oxley works. The number of companies restating their earnings has tripled, meaning companies are employing more rigorous accounting methods and the market is getting more accurate information on which to value those companies. . . . There may be room to fine-tune and improve some of Sarbanes-Oxley's provisions. Congress should be open to that. But let's not turn back the clock to the uncertainty and dishonesty of the Enron era. Some may believe that the cost of financial integrity and corporate accountability is too high, but the cost of not demanding it would be catastrophic.