Sarbanes-Oxley gives shareholders powerful tools to fight investment fraud, said a group of investment advisers attending a recent corporate governance conference in Paris. In that sense, the highly controversial corporate reform law does exactly as Congress intended it, whether or not it makes the United States less competitive from an economic standpoint. One caveat, according to nternational Herald Tribune commentator and former Arthur Andersen auditor Jim Peterson: The already shaky audit industry — built only on four major players — may not be able to survive another failure, especially in light of the current economic downturn.  READ MORE