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At its October annual meeting, the American Corporate Counsel Association released the results of its first member survey. A total of 1,216 in-house counsel responded, a third of them GCs. Some of their opinions: What Do You Think? Is the Sarbanes-Oxley Act necessary?46%-Yes54%-No Will the law’s reporting requirements reduce future corporate misdeeds?25%-Yes39%-No36%-Don’t know How comfortable are you reporting financial or accounting problems to the most senior managers at your company?87% — Very or somewhat comfortable Should in-house counsel have some discretion in reporting corporate misdeeds, or should reporting be mandatory?46%-Yes, it should be discretionary35%-No, it should be mandatory19%-Don’t know Would permissive reporting make your client less candid with you?26%-Yes Would mandatory reporting make your client less candid with you?47%-Yes Are in-house counsel kept well-informed by senior managers about financial and accounting issues at your company ?39%-Yes, well-informed49% — Generally well-informed, but “out of the loop” on some developments 12%-No, poorly informed Where do you turn for guidance or advice on ethical issues?53%-Another in-house counsel22%-Outside counsel54%-Personal research14%

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