PCAOB

  • 08 May 2006 at 3:30 PM
  • PCAOB

Big News for SOX Fans

This Wednesday the SEC and the Public Control Accounting Oversight Board are throwing a party for hosting a roundtable on Sarbanes-0xley.
Of course we already know that the PCAOB thinks SOX is wonderful. And not just because PCAOB members will be stacking serious cheese while public companies attempt to comply with the law. Last week, PCAOB board member Charles D. Niemeier provided a whole bunch of reasons why we should think SOX is wonderful.
The next day, though, the GAO reported that smaller public companies are disproportionately burdened by SOX and that many companies are going private to avoid compliance.
The score: Big Business, Big Accounting and Big Government: 1. Everyone Else: 0.
Oh. And then there is Sohu founding executive Xin Ye’s remark, which favorably compares the cost of compliance with Chinese government censorship to SOX compliance.
PS: Believe it or not, DealBreaker is actually interested in this all day conference on SOX compliance. Just not interested enough to actually attend the thing. If you’re going for some reason, drop us an email with news, updates, personal attacks or irrelevant details from the roundtable.