SEC to ease Sarbox rules
SEC votes to reduce Sarbox compliance burden in bid to lure companies back to US exchanges
The Securities and Exchange
Commission has voted to ease up Sarbanes-Oxley regulations, in a
move that could encourage companies back onto US exchanges and reduce audit
bills.
Sarbox will become more risk-based, and
auditors will not be required to do separate assurance work for clients.
Industry experts have suggested that the US was set to be overtaken by
London’s markets as the world’s capital markets centre.
Further reading:
SEC backs down on foreign company
delistings
SEC reviews expensive Sarbox accounting rule
US ‘must revise Sarbox to stay competitive’