ABA raises SOX concerns with Congress
Congress hears more SOX greivances
The American Bankers Association (ABA) raised concerns to Congress today regarding the time and cost burdens associated with the Sarbanes-Oxley Act (SOX), particularly Section 404, which requires an annual evaluation and verification of the adequacy of internal controls by auditors.
In testimony before the Senate Committee on Small Business and Entrepreneurship, Thomas Venables, chief executive of Benjamin Franklin Bank, explained that his own institution, which has $913 million in assets and 186
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