Report Dismisses Small Biz Complaints Over SOX

Law360, New York (July 12, 2006, 12:00 AM EDT) -- Small public companies should be able to find a “cost-effective” way to comply with internal control requirements set forth by the Sarbanes-Oxley Act, according to a report released by the Committee of Sponsoring Organizations of the Treadway Commission.

The report offers guidance to small companies looking to beef up internal controls as required by SOX.

But where some organizations have claimed that SOX compliance would place an undue financial burden on smaller companies, the report says that “COSO believes that small business can and should maintain...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.