Push to Get Rid of Another Crucial Shareholder Protection: SOx 404

Business groups want to soften a Sarbanes-Oxley rule that requires companies to have auditors weigh in on their “internal controls”—the policies and procedures intended to prevent errors or fraud on their financial statements.Sarbanes-Oxley requires companies to evaluate whether these controls are effective and to have their auditor pass judgment on that assessment. Shareholder advocates say the rule, known as Section 404(b), helps ensure companies are giving accurate numbers to investors. Groups like the U.S. Chamber of Commerce say the rule is too costly and burdensome for small companies.

Source: Why Stop at Dodd-Frank? Some Want Trump’s Regulatory Overhaul to Go Further – WSJ

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