Accounting News

Wednesday, June 13, 2007
SEC Scales Down SOX Audit Requirements

The Securities and Exchange Commission (SEC) unanimously approved new guidance to help public companies strengthen their internal control and reducing unnecessary costs. The new guidelines focus on smaller companies. This are an update to Section 404 of the Sarbanes-Oxley Act of 2002. Companies subject to the 404 auditing requirements have complained that that the Section 404 auditing requirements were onerous and expensive.

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