 No. 43 Paul Sarbanes and Michael Oxley, US Senator and Representative
Last year's position: Not placed
Sarbanes and Oxley made a name for themselves, quite literally, when they began to form a plan to tighten corporate governance legislation in the post-Enron era.
The Sarbanes-Oxley Act, which comes into effect November 2004, is by far the most important addition to the corporate landscape this century and has had massive implications for IT spend and strategy, encapsulating the need to make sweeping changes to the way electronic communications are managed. Its impact will be felt well into next year and beyond.
The Act covers a whole range of governance issues, many covering the types of trade that are allowed within a company. For example, the Act forbids personal loans to officers and directors, a measure which may have made for a very different WorldCom.
Other measures regulate the responsibilities of audit committees sent in to check the health of companies' compliance. The Act also offers protection to 'whistleblowers'. Expect some interesting headlines after 15 November.
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