Sarbox ‘does not need to be changed’

US Treasury under secretary for domestic finance,
, 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.

Further reading:

Sarbox costs plummet by 23%

US to investigate flood of restatements

Republican attempt to limit Sarbox felled

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