and Many are Still Pushing for Complete Repeal…

The Securities and Exchange Commission and the DoJ did what they could last week to ease the Sarbox burden on U.S. public companies — and some foreign firms as well. Early last week, the Department of Justice issued new, more relaxed guidance on prosecuting criminal corporate fraud cases. The SEC has voted last to make implementation of Sarbanes-Oxley section 404 more risk-based and to reduce the complexity of audits. The independent regulator also extended the Sarbox compliance deadline for smaller companies. But many critics are still clamoring for Sarbox to be eliminated.