Resources for Sarbanes-Oxley (SOX)

Why Smaller Companies Benefit From Accounting Standard 5

www.metrocorpcounsel.com/

Sarbanes-Oxley's Section 404 imposed a considerable hardship on small companies because of the costs involved. The related effort to comply with the requirements of the Act and the attendant AS2 seemed in many cases to outweigh the benefits that accrued. Typically, small companies have internal controls, as do all companies - otherwise, they could not operate. In a smaller environment where fewer people have a more hands-on approach to their business, the need for documentation of all those controls and the emphasis on segregation of duties seemed a bit of overkill.

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