SOX reform looking increasingly likely
NEW YORK – The hotly debated issue of reforming the Sarbanes-Oxley Act (SOX) appears to be approaching a critical juncture in the run-up to a crucial December 13 meeting of the Securities and Exchange Commission (SEC).
"In the weeks ahead, the US will unveil significant changes to the implementation of Section 404 of Sarbanes-Oxley to... ensure the internal controls are top down, risk-based and focused on what truly matters to the integrity of a company's financial statement," said SEC chairman Christopher Cox at a meeting in London last month.
"The overarching objective of these changes will be to reduce the
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