SEC proffers new emphasis on Sarbox

Commission chief calls for shifting emphasis to material risk

A champion of 'eternal vigilance' on principle, US Securities and Exchange Commission chief William Donaldson has come out as a pragmatist.

Responding to mounting criticism about the costs of implementing Sarbanes-Oxley, Donaldson has signalled a willingness to help ease the compliance burden on public companies.

In a speech before the Foundation Financial Officers Group, Donaldson promised to release new guidance from the SEC that would make Section 404 compliance projects more efficient and effective, and therefore less costly.

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