Council of Institutional Investors

Section: SOX 404
Evidence Does Not Support Expanding Internal Control Exemption
In a July 25 letter to the SEC, CII General Counsel Jeff Mahoney opposed a commission proposal to exempt certain low-revenue public companies from complying with Section 404(b) of the Sarbanes-Oxley Act, which requires an independent auditor to attest to the effectiveness of internal controls over financial reporting.