Jim Peterson at re:Balance calls new rules on auditors reports on internal controls trouble for small companies.
He calls it a boondoggle.
Small public companies: “Get ready to to bend over and offer a fat and juicy target – to be stuck by a needle-wielding bureaucrat with the fear-inducing cry, “I’m from the SEC, and this shot is for your own good.’ ” via Re:Balance — Jim Peterson.
But you have to remember where Jim is coming from: “Sarbox was never more than a knee-jerk political feel-good exercise – going back to my July 20, 2002 column in theInternational Herald Tribune: ‘any legislation receiving the bipartisan margin of 97-0 is bound to be fundamentally defective.’ “