New York (July 20, 2004) -- The majority of senior executives say that their company must make improvements in order to comply with Section 404 of the Sarbanes-Oxley Act, with financial processes and computer controls topping the list of areas in need of remediation, according to a survey by PricewaterhouseCoopers.

Of 152 chief financial officers and managing directors at U.S. companies surveyed, 79 percent say that their company must make improvements in order to comply with Section 404, which requires companies to file a management assertion and auditor attestation on the effectiveness of internal controls over financial reporting.

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