SOX Section 404 under fire
CORPORATE GOVERNANCE
A letter from Jonathan Kempner, president and chief executive officer of the Mortgage Bankers Association - a trade association of smaller US savings banks - says cost is an issue. "Interestingly, while our members expressed unanimous support for the Act's objectives of promoting greater integrity and responsibility in corporate financial reporting and disclosure," says the letter, "they also agreed that the manner in which Section 404, Management assessment of internal controls, has been
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