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Sarbanes-Oxley works for all

Sarbanes-Oxley works for all

by Rick Turoczy on October 18, 2006

What’s going on? Thanks to Sarbanes-Oxley, which established the Public Company Accounting Oversight Board, someone is looking at those firms for the first time.

Before Sarbanes-Oxley, the only real regulation of the audit industry came from the Securities and Exchange Commission, which had limited authority and a limited staff. It could file suits against auditors or their firms and bar them from auditing public companies. But a commission staff that lacked the resources even to look at the vast majority of filings by large companies was unlikely to spend time reviewing many audits of tiny companies.

Sarbanes-Oxley works for all

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