No one could prove to you that Sarbanes-Oxley would have prevented a dedicated crook from being able to hide something beyond the view of the balance sheet and accountants. |
People at a lower level who would not get the same direct benefit as an executive who will see the company's stock price inflate are a lot less likely to cooperate. Accounting fraud is usually not a one-man crime. |
There's greater threat from the SEC, from (Sarbanes-Oxley), from criminal prosecution and private class actions, but not any one of them is decisive. |