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Friday, Jun 9, 2023

SEC Eases Sarbanes-Oxley Requirements

The Securities and Exchange Commission approved revisions to Sarbanes-Oxley rules that are expected to ease somewhat the internal controls required to guard against fraud, according to an Associated Press report. The change, approved unanimously by the five SEC commissioners, comes after years of complaints that the compliance regulations imposed by Sarbanes-Oxley is too burdensome and costly for smaller companies. The revised rules, which allow companies to scale their internal inspections to the size of their businesses, will take effect with 2007 year audits.

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