SOX gets a kicking at senate hearings
WASHINGTON, DC – Regulators from around the world, as well as executives from companies and financial services firms, lobbied for changes to the two-year-old Sarbanes-Oxley Act in a set of Senate hearings in early September.
There is no doubt that Sarbanes-Oxley was one of the most controversial pieces of legislation to be produced by the US Congress in years. Overseas regulators bristled at the imposition of requirements on non-US firms, while companies subject to the legislation moaned that the cost of implementing SOX – as it is affectionately known – were prohibitively expensive. In the hearing, Examining the
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