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Sarbanes‐Oxley Act: Was the “one‐size‐fits‐all” approach justified?
Author(s) -
Nogler George,
Jang Inwon
Publication year - 2011
Publication title -
journal of corporate accounting and finance
Language(s) - English
Resource type - Journals
eISSN - 1097-0053
pISSN - 1044-8136
DOI - 10.1002/jcaf.20691
Subject(s) - accounting , capitalization , sarbanes–oxley act , market capitalization , business , section (typography) , economics , stock market , audit , advertising , history , linguistics , philosophy , context (archaeology) , archaeology
Does the level of discovered fraud in publicly traded companies justify the “one‐size‐fits‐all” philosophy of the Sarbanes‐Oxley Act? Especially considering the costs to implement Section 404? We know that Congress has made attempts to exempt firms with market capitalization below $75 million. Given the relatively low discovered financial fraud in companies at this level, the authors of this article believe the change may be justified. © 2011 Wiley Periodicals, Inc.