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Will The SEC Change Sarbanes-Oxley Law?

Will The SEC Change Sarbanes-Oxley Law?

by Rick Turoczy on May 7, 2006

While major corporations can bare the cost burden of extraordinary accounting, for most small cap companies its far too expensive to comply to Sarbanes-Oxley.

Sarbanes-Oxley is already being challenged in federal court and now, Republican lawmakers are considering repealing the law altogether.

Last month an advisory committee urged the SEC to exempt smaller companies from a key portion of the law, Section 404, that requires companies and outside auditors to confirm the effectiveness of internal accounting controls.

Accounting firms, which earn huge audit fees from the requirements, oppose major reforms to the law.

Will The SEC Change Sarbanes-Oxley Law?

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