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SEC Votes To Propose Measures To Clarify SOX

Law360 (December 13, 2006, 12:00 AM EST) -- The U.S. Securities and Exchange Commission has voted to propose a measure that would clarify certain aspects of Section 404 of the Sarbanes-Oxley Act.

At an open meeting held Wednesday, the agency approved proposing for public comment interpretive guidance regarding a company’s evaluation of its internal controls over financial reporting.

“We are proposing this interpretative guidance to help management make their evaluation process more efficient and cost-effective, said SEC Chairman Christopher Cox. “In the absence of guidance, management has looked to the PCAOB's auditing standard to...
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