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The AAO Weblog covers accounting issues and current events as they relate the practice of investment analysis.

Mar 29

Written 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.