Lukewarm response to SOX legislation
NEW YORK - The Securities and Exchange Commission (SEC) has published details of the predominantly lukewarm responses received to its July Concept Release on internal controls legislation in the Sarbanes-Oxley Act (SOX).
In the release, the SEC discusses measures to lower the cost of Section 404 compliance, make internal auditing more efficient and introduce guidance for management that has been lacking since SOX became law four years ago.
The responses, which the SEC received from more than 100 organisations varying from small cap firms to internationally active banks, reveal a wealth of opinions about both
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