Orlando, Fla. (Aug. 13, 2004) -- Fearful that the pace of accounting reform is putting auditors and their corporate clients on “overload,” regulators at the Securities and Exchange Commission are giving serious consideration to temporarily delaying implementation of key Sarbanes-Oxley Act initiatives.
Word of a possible regulatory slowdown surfaced when SEC chief accountant Donald T. Nicolaisen told professionals at the American Accounting Association’s annual meeting in Orlando, Fla., on Aug. 10 that commission staffers are concerned that auditors and public companies may have difficulty properly implementing new rules requiring the management of public companies to provide an assessment of the effectiveness of internal control over financial reporting.
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