US regulation stays - says US treasury under-secretary for domestic finance
Accountancy Age, 18 May 2007
US Treasury under secretary for domestic finance, Robert Steel, has slammed reports that there would be changes to the contentious Sarbanes-Oxley Act.
Steel said new legislation to amend the onerous sections of the Act is not needed because administrative changes to internal control requirements for public companies will make compliance easier.
Steel maintained that he supported the US Securities & Exchange Commission and Public Company Accounting Oversight Board who are currently busy with re-interpretation of sections of the law.
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