Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

A Member of the Law Professor Blogs Network

Wednesday, May 23, 2007

SEC Approves Guidance on SOX 404

Today the SEC unanimously approved guidance for management to use in evaluating internal controls over financial reporting.  The guidance is intended to make it easier to comply with section 404 and reduce the costs of compliance.  One of the biggest cost reductions is expected to come from a rule that will require auditors to provide only one opinion on internal controls, instead of the currently required two -- one on the controls, one on management's process in assessing the controls.  Tomorrow PCAOB is expected to approve a comparable standard for auditors.  See WSJ, SEC Approves Guidance To Ease Sarbanes-Oxley Rules.

http://lawprofessors.typepad.com/securities/2007/05/sec_approves_gu.html

SEC Action | Permalink

TrackBack URL for this entry:

http://www.typepad.com/services/trackback/6a00d8341bfae553ef00d83547500c53ef

Listed below are links to weblogs that reference SEC Approves Guidance on SOX 404:

Comments

Post a comment