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Sarbanes-Oxley attack excessive

Sarbanes-Oxley attack excessive

by Rick Turoczy on June 28, 2006

The effort to roll back the protections of the Sarbanes-Oxley Act is under way, and the attack on regulation may be greater than could have been imagined four years ago, when the law was passed by overwhelming majorities.

Those seeking change say regulations are running up costs and driving down stock prices, while forcing companies to leave American markets. The only beneficiaries, to hear them tell it, are accounting firms.

“External audits are totally redundant,” said Rep. Tom Feeney, who has taken the lead in efforts to role back Sarbanes-Oxley, speaking at a congressional hearing this week. Since corporate officials now certify the reports, he says, additional validation wastes money.

Sarbanes-Oxley attack excessive

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