Only a few hours after reform of the Sarbanes-Oxley Act’s auditing rules got a resounding endorsement from government officials and business executives, the Securities and Exchange Commission announced it would move ahead with a promised review of the controversial law.
The SEC issued a “concept release” Tuesday, July 11, that outlines its forthcoming guidance for corporate managers on assessing a firm’s internal controls over financial reporting, or what is more commonly known as �404, for passage of the Sarbanes-Oxley Act that spells them out. The law’s auditing mandates have been criticized, especially by small companies, as a burdensome and unwarranted expense.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]