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Lawmakers to review embattled Sarbanes-Oxley

Lawmakers to review embattled Sarbanes-Oxley

by Rick Turoczy on September 19, 2006

Written four years ago in the wake of big accounting scandals at companies like Enron and WorldCom, the Sarbanes-Oxley law was intended to clean up corporate culture and make executives accountable for their companies’ books.

But the law has been accused of saddling companies with heavy burdens, since it requires potentially expensive audits and multiple hours dedicated to checking and re-checking corporate balance sheets.

Members of the House Financial Services Committee, including Rep. Michael Oxley, one of the law’s authors, will question Securities and Exchange Commission Chairman Christopher Cox and Public Company Accounting Oversight Board Chairman Mark Olson about implementation of the law Tuesday afternoon.

Lawmakers to review embattled Sarbanes-Oxley

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