NAM Welcomes Roundtable on Sarbanes-Oxley Costs

Coleman Says New Internal Control Rules ‘Stressing’ Bottom Lines, Competitiveness

As the Securities and Exchange Commission prepares for tomorrow’s roundtable discussion about the implementation costs of major corporate accounting legislation enacted in 2002, the National Association of Manufacturers reported that many companies are stressed to meet those costs.

Recounting the NAM’s endorsement of the Sarbanes-Oxley Act as a means to “safeguard investors and restore confidence in our financial markets,” NAM Vice President for Tax Policy Dorothy Coleman noted that, “we are now concerned that some of the current rules implementing the law could unnecessarily restrict executives’ ability to effectively run their businesses and remain competitive in the global marketplace.

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