PCAOB, SEC: 404 Costs Too High

Clearly, ''the first round of internal control audits cost too much,'' says the board; ''some non-trivial costs may have been unnecessary, due to excessive, duplicative, or misfocused efforts,'' states the commission.

The Public Company Accounting Oversight Board and the Securities and Exchange Commission have acknowledged that the costs of implementing Section 404 of the Sarbanes-Oxley Act may be higher than they should be.

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