SEC's Moves On SOX: The Big Guns Come Out

Moves by a Securities And Exchange Commission advisory panel to exempt 80 per cent of companies from having their internal controls certified have come under fire from former SEC heavies, Paul Volcker and Arthur Levitt.In a letter they co-wrote...

It's refreshing to see that the people that held such high stations with influential companies and commissions continue to maintain their vigilance to protect the average investor. Men like Volcker, Levitt, Biggs, and Bogle, continue to echo the spirit of why the Sarbanes-Oxley was enacted in the first place. Without doubt, the cost of SOX compliance can be steep, but there is a lot of "institutional learning" about internal controls that has transpired over the past three years. Those efforts have flattened the learning curve for those who follow.

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