Noting that the impact of Section 404 of the Sarbanes-Oxley Act on companies, auditors and investors has been huge, one Big Four chief executive says that the changes "all are positive."

Calling 404 -- the section of SOX that addresses internal controls over financial reporting -- "the glue that holds the act together," PricewaterhouseCoopers LLP chairman Dennis Nally said that as a result, he believes that, "Over time, we'll see fewer major restatements, fewer Securities and Exchange Commission financial reporting cases and, ultimately, fewer incidents involving accounting fraud."

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

Don't have an account? Register for Free Unlimited Access