Washington - Regulatory overreaction by gun-shy auditors and corporate managers is at least partially to blame for the soaring audit expenses attributed to the Public Company Accounting Oversight Board's new rules implementing Sarbanes-Oxley Act Section 404 accounting reforms, board member Daniel L. Goelzer told business leaders here.
In a recent address to the National Association of Business Economics, Goelzer argued that "many of the Section 404-related costs and burdens that are currently attracting public attention are a consequence of the first-time implementation of what is inherently a complex and far-reaching new statutory requirement."
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access