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Sarbox Survival Guide: Fixing Sarbanes-Oxley 404

Sarbox Survival Guide: Fixing Sarbanes-Oxley 404

by Rick Turoczy on September 26, 2006

When Securities and Exchange Commission Chairman Christopher Cox testified before the House Financial Services Committee not long ago, he admitted that the process audits required by section 404 of the Sarbanes-Oxley Act of 2002 are much too costly. (A study from AMR Research says companies will spend more than $6 billion this year on compliance.)

Nonetheless, he assured the committee that there are no “irreparable problems” with Sarbox, according to an International Herald Tribune report. Moreover, the SEC has “ample authority” to correct the problems that do exist without congressional intervention.

Sarbox Survival Guide: Fixing Sarbanes-Oxley 404

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