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."
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