U.S. Workers and Investors Largely Unaware of Sarbanes-Oxley Act Hudson Survey Shows Limited Impact on Investor Confidence Only Accounting and Finance Workers are Affected to Date NEW YORK, Nov. 22 /PRNewswire-FirstCall/ -- Eighty percent of U.S. workers and 76 percent of employed investors have never heard of the Sarbanes-Oxley Act of 2002, according to a Hudson survey measuring its impact in the workplace. As the first compliance deadline approaches in December, only nine percent of workers say they have been asked to do something differently in their jobs as a result of the Sarbanes-Oxley Act. Among working investors, defined as owning at least $5,000 in stocks, bonds and mutual funds, only seven percent indicated that Sarbanes-Oxley had increased their confidence as an investor. Likewise among this group, only seven percent said it had increased their confidence in the leadership of public companies. The Sarbanes-Oxley Act was enacted to restore investor confidence in public company accounting and leadership by increasing transparency and requiring CEOs and CFOs to attest to the soundness of their companies' internal controls. "Clearly, U.S. workers and individual investors are not well informed about the Act or its intended benefits," said Dee Lonn, executive vice president of Hudson Financial Solutions. "Despite massive investments of corporate resources, public relations is lagging and the workplace impact has not extended much beyond those directly responsible for achieving compliance." Companies are spending an average of $3 million in the first year to comply with the Sarbanes-Oxley Act, according to Financial Executives International. As expected, the Act's influence has been much greater in accounting and finance circles, with 25 percent of accounting and finance workers reporting that they have been asked to do something differently in their jobs as a result of Sarbanes-Oxley and 22 percent saying the Act has created more work for them personally. Senior managers are also feeling the impact, with 18 percent reporting they have been asked to do something differently and 13 percent saying it has created more work for them. The Hudson survey was based upon telephone interviews with 2,152 workers and 1,880 investors conducted between November 5 and 14, 2004. The interviews were conducted by Rasmussen Reports, an independent public opinion research firm based in New Jersey. Hudson, one of the world's leading professional staffing, outsourcing and human capital solution providers, also publishes the Hudson Employment Index(SM), a monthly measure of the U.S. workforce's confidence in the employment market. Next month's Hudson Employment Index(SM) will be released on December 3, 2004. Hudson Hudson delivers specialized professional staffing, outsourcing, and employment lifecycle solutions worldwide. From single placements to total solutions, the firm helps clients achieve greater organizational performance by assessing, recruiting, developing and engaging the best and brightest people for their businesses. Hudson is a division of Hudson Highland Group, Inc. one of the world's leading professional staffing, retained executive search and human capital solution providers. The company employs more than 3,600 professionals serving clients and candidates in more than 20 countries through its Hudson and Highland Partners businesses. More information is available at http://www.hudson.com/. Special Note: Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the statements made in this release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve certain risks and uncertainties, including statements regarding the company's strategic direction, prospects and future results. Certain factors, including factors outside of our control, may cause actual results to differ materially from those contained in the forward- looking statements, including economic and other conditions in the markets in which we operate, risks associated with acquisitions, competition, seasonality and the other risks discussed in our Form 10-K and our other filings made with the Securities and Exchange Commission, which discussions are incorporated in this release by reference. DATASOURCE: Hudson CONTACT: Jennifer Bernhart, Hudson, +1-813-890-7379, or Web site: http://www.hhgroup.com/ http://www.hudson.com/

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