Complaints over SOX compliance fall largely on deaf ears
WASHINGTON, DC – Recent protest from corporate executives about the expense and amount of time consumed by firms in their efforts to comply with Section 404 of the Sarbanes- Oxley Act (SOX) was met with mere acknowledgement at hearings held by the House of Representatives in late April.
Executives from the Financial Services Roundtable (FSR) – a lobbying group based in Washington, DC – fired the opening shot with a letter to the Securities and Exchange Commission at the beginning of April. According to the letter, FSR members are worried about the costs associated with Section 404 compliance. The letter stated that a recent Financial Executives International survey indicated the
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