Hey RWood, you are talking about my bread and butter! I have been working on the Sarbanes-Oxley (SOx) program for a major company formerly headquartered in Seattle for the last four years.
And while some of what you say is true, the fact remains that most of the requirements of SOx are essential parts of any financial accounting practice.
The alarming part is just that people see this as a waste of time, when it should always have been business as usual. That said, for a really effective method of ending financial scandals, I recommend bringing back the guillotine.
And with that, I will end this off-topic rant.
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