Section 404’s Costliness Hinders Act’s Effectiveness
Special to Roll Call
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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Schumer Advocates for Many on Panel
Nov. 16, 12 a.m.
As Senate Majority Leader, Lyndon Johnson once said of the Joint Economic Committee, “It’s as useless as tits on a bull.” But as that panel’s chairman during the 110th Congress, Sen. Charles Schumer (D-N.Y.) seized the opportunity to elevate the traditionally low-profile post to the forefront of shaping policy. Read Full Article
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