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The AAO Weblog covers accounting issues and current events as they relate the practice of investment analysis. All posts prior to September, 2007 are in the public domain, but after September 4, 2007, only subscribers to The Analyst's Accounting Observer will see all posts going forward. Only selected, occasional posts will be released to the public domain from September 4 forward.

Donaldson On 404
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Posted by: Jack Ciesielski 3/29/2005 8:06 AM
If you missed "We've Been Listening", don't. It's SEC Chairman Bill Donaldson's Wall Street Journal editorial about the Section 404 internal control reviews and the hue and cry over them. Read it in full, but let me print one excerpt:

"I believe, however, that the voices calling for a roll back of portions of Sarbanes-Oxley, citing Section 404 as the poster child for over-regulation, are short-sighted. The principles behind the Act are unassailable and action was long overdue. Furthermore, the initial implementation of Section 404 has, by and large, been successful. The time, energy and expense that companies are now investing in their internal controls will, I predict, earn a handsome return for years to come."

I couldn't agree with him more.

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