Section 404’s Costliness Hinders Act’s Effectiveness
- By Rep. Tom Feeney
- Special to Roll Call
- Sept. 24, 2007, 12:16 p.m.
In our current post-Enron world, there is general agreement that since Sarbanes-Oxley was implemented the financial reporting requirements are tighter, internal controls have improved and there is more transparency in the overall auditing process than pre-Enron. However, the estimated cost of implementing Section 404 has greatly surpassed original estimates and has brought into question the
actual net benefits of the entire act.
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