Address for Correspondence

Hoek van Hollandlaan 13

2554 EA The Hague

The Netherlands

Tel: +31-10-2894 505

e-mail: efamro@hetnet.nl

IBAN: NL45ABNAO421984864

BIC: ABNANL2A

Sarbanes Oxley jeopardizes accuracy of market research industry statistics.

Also in Europe the interpretation of Sarbanes Oxley leads to confusion as far as the publication of Industry Statistics is concerned. Some companies are participating on a business-as-usual bases, some companies refrain from publications, forcing the industry associations to make “best guesses” in order to keep the industry statistics alive.

Experts indicate that it all boils down to a misinterpretation of the Sarbanes Oxley Act.

The Act makes a distinction between “broad public disclosure” and “limited private disclosure”.

Although one could discuss a definition of “disclosure” there should be no misunderstanding about the current “limited private” character of the Industry Statistics. In Europe only one person (sometimes two) has access to the individual data. The only activity of these persons is to aggregate the figures and to check whether members did deliver their contribution to the Industry Statistics.

In the Netherlands the delivery of input is fully automated which is an even stronger safety procedure in order to keep individual statistics confidential.

Efamro advises its members to shape up the formal procedures around the handling of industry statistics. One can think of formal confidentiality agreements and password handling procedures who are compliant to Sarbanes Oxley.

Expectations are that the Sarbanes Oxley setback will only be temporarily.

Next step will be to convince the few companies who hesitate with the participation in the industry statistics to change their mind.