Sarbanes Oxley might be simplified

William Donaldson, chariman of the Securities and Exchange Commission, has predicted that the Commission will consider making modest changes to some of the major regulations adopted after the wave of corporate scandals in recent years. This will be based on the regulatory experience of the last two years and should make some rules more "cost effective". This follows the recent announcements that will allow small companies and foreign companies whose shares are traded in the US more time to comply with the Sarbanes-Oxley Act of 2002 (SOX). The SEC is planning to consult companies and auditors in April about how they coped with the first year of s404 of Sarbanes-Oxley on internal controls.

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