Rolfe Winkler
The race to the regulatory bottom continues
Friday, 11/6/2009 - 11:18 am by Rolfe Winkler | 1 Comment
Rolfe Winkler, our colleague at Reuters, examines the attempt in Congress to gut a provision that protects investors from fraud.
An amendment permanently exempting small public companies from complying with a key provision of the Sarbanes-Oxley Act advanced in Congress on Wednesday, demonstrating the bankruptcy of our approach to reform.
Sarbox was passed in the wake of scandals at Enron, WorldCom and others to protect investors. Sections 404(a) and 404(b) are important provisions.
The first requires executives to sign off on the integrity of internal controls. Can employees walk off with inventory? Are two people signing checks? Is accounting in order? Basic stuff…
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