The SEC Opens Up SarbOx
Regulatory revisions to the landmark Sarbanes-Oxley Act won't radically ease costs, but the changes will offer some legal relief
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Businesses that have been agitating for less stringent oversight of financial compliance regulations will get a first taste of relief in the next two weeks, when the Securities & Exchange Commission and the Public Company Accounting Oversight Board unveil a plan for streamlining the day-to-day workings of the Sarbanes-Oxley Act of 2002.
It's an exercise designed to address businesses' core concern: Compliance simply costs too much. But when the dust settles and final rules are adopted early in 2007, any changes are likely to have a modest impact on Corporate America's bottom line. Their real value, rather, might be peace of mind.