COSTS OF SARBANES-OXLEY WEIGH ON SMALL COMPANIES

NEW YORK -- Complying with Section 404 of the Sarbanes-Oxley Act is turning out to be quite a headache -- and an expensive one, especially for smaller-sized companies.Section 404 requires managers of public companies to establish and maintain internal controls with regard to financial reporting. The section also requires the auditing firms to not only sign off on financial reports, but also attest

NEW YORK -- Complying with Section 404 of the Sarbanes-Oxley Act is turning out to be quite a headache -- and an expensive one, especially for smaller-sized companies.

Section 404 requires managers of public companies to establish and maintain internal controls with regard to financial reporting. The section also requires the auditing firms to not only sign off on financial reports, but also attest that management of the audited company made the necessary internal assessments.

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