Center for Audit Quality survey finds majority of nation's investors support Sarbanes-Oxley act.

• Position: Legislation

Expressing confidence in the capital markets and audited financial information, two-thirds of investors would be concerned by any easing of rules mandated by the Sarbanes-Oxley Act, according to a national survey conducted for the Center for Audit Quality (www.thecaq.org). The CAQ was created earlier this year by the AICPA and the leading public company audit firms to serve investors, public company auditors and the markets.

The nationwide telephone survey of 1,000 investors explored opinions about the legislation and its various components, the strength of the U.S. capital markets and the impact of the Sarbanes-Oxley Act on investor confidence.

The findings were released in advance of a CAQ event at the National Press Club on July 30, the Act's fifth anniversary. The survey found that 84% of investors have confidence in the U.S. capital markets and 80% have confidence in the financial information provided by public companies, with 79% saying changes brought about by the Sarbanes-Oxley Act bolster their confidence in that information. Importantly, 62% of those participating in the survey believe the rules mandated by the Act should be left fundamentally as they are, with two-thirds saying they would be concerned by any easing of the rules.

"Without question, the impact of the law has dramatically...