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Business Wins Its Battle to Ease A Costly Sarbanes-Oxley Rule

Publication Date: 
November 10, 2006
Source: 
Wall Street Journal
Author: 
Kara Scannell and Deborah Solomon

"Wall Street Journal" quotes Rock Center for Corporate Governance Co-Director and professor Joesph Grundfest

"This may be a bell that can't be un-rung," says Joe Grundfest, a former SEC commissioner and co-director of the Rock Center for Corporate Governance at Stanford University. "The audit firms have already incorporated a lot of the inefficient 404 process into their integrated audits, and once audit firms have processes in place, it's very hard to persuade them to back off and ease up on those processes."