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Smaller firms paying big to follow Sarbanes-Oxley

Smaller firms paying big to follow Sarbanes-Oxley

by Rick Turoczy on May 15, 2006

Smaller companies face disproportionately higher costs than bigger firms to comply with new, post-Enron investor-protection rules, but much of the added burden comes from startup expenses and confusion over how to begin compliance, a congressional study concludes.

The effect on small and midsize public companies has been debated since the new rules were adopted by Congress as part of the Sarbanes-Oxley Act of 2002.

The report by the Government Accountability Office, the research arm of Congress, says the full cost and other effects of the new rules won’t be known for years because the Securities and Exchange Commission has extended the deadline for small firms’ compliance until next year.

Smaller firms paying big to follow Sarbanes-Oxley

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