Reform measures achieve fruition.

Certain provisions of the Sarbanes-Oxley Act became required practice in January when the SEC released as final four rules governing various aspects of accounting, financial reporting and auditing. As mandated by the act, the commission's new rules address auditor independence, off-balance-sheet arrangements, audit records retention and pro forma financial reporting--all focal points of Congress's efforts to stem the recent tide of corporate failures.

The auditor independence rule supersedes earlier provisions governing nonaudit services (www.see.gov/rules/final/33-8183.htm). It forbids auditors to provide nonaudit services such as financial information systems design and …