Congressman Seeks To Sock SOX Provision

Law360, New York (October 8, 2009, 6:52 PM EDT) -- Rep. Scott Garrett, R-N.J., has introduced a bill exempting small public companies from having to comply with controversial auditing provisions of the Sarbanes-Oxley Act, this less than a week after the government set a deadline for compliance with the provisions.

Garrett introduced the “Small Business SOX Relief Act” on Thursday, aiming to permanently exempt small businesses from reporting requirements contained in Section 404(b) of SOX.

"Although the stated intent of Sarbanes-Oxley was to provide investor confidence in our markets through greater accountability and disclosure, the act...
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