Sarbox Update
According to the NYtimes the House Financial Services Committee approved an amendment to Sarbanes Oxley (Sarbox) that would allow some companies to be exempt from this legislation. While the article implies that many companies would not be exempt under this amendment, the amendment only applies to companies worth less than $75 million and asks for a study of whether companies worth less than $250 million should be exempt.
Sarbanes Oxley has severely damaged the technology start-up market and the financial industry in the U.S. Sarbox is very expensive: including enormous direct and indirect costs to our economy and to innovation. It has not met its goals of improving the quality of auditing or preventing fraud. The effects of this law include fewer public companies, fewer companies going public, more companies choosing to go public in foreign markets, absurdly high auditing expenses and a significant decrease in risk capital.
For More information see Sarbanes Oxley – Is the Medicine Worse Than the Disease – 1 and Sarbanes Oxley – Is the Medicine Worse Than the Disease – 2 .
No comments yet.
Leave a comment
-
Recent
- Burning the Ships: Intellectual Property and the Transformation of Microsoft
- Levine & Boldrin Argue the U.S. Should End the Patent System
- Is Sarbox Constitutional?
- Climate Change and Innovation
- Explaining Patent Law Through the Lens of Natural Rights
- ACLU – Gene Patent Non-Sense
- Is Money an Abstract Concept?
- Jump Starting a Secondary Market for Patents
- Bilski Case Reveals Supremes Ignorance
- Patent Reform Propoganda
- Circumventing Sarbox and the IPO Drought
- Sarbox Update
-
Links
-
Archives
- December 2009 (5)
- November 2009 (9)
- October 2009 (11)
- September 2009 (11)
- August 2009 (10)
- July 2009 (10)
- June 2009 (14)
- May 2009 (11)
-
Categories
-
RSS
Entries RSS
Comments RSS