2012 Candidates Target Costly Enron-Era Law Aimed At Thwarting Accounting Fraud | Fox News: "Long seen as the law's most controversial provision, Section 404 requires public companies to include in their annual reports both the firm's own assessment of its "internal controls" and an outside auditor's assessment.
Now, in a campaign season where excessive regulation has emerged as an improbable yet potent issue on the stump, Sarbanes-Oxley and its legacy are drawing new scrutiny on the 2012 GOP presidential campaign trail.
And not just from Perry. Number 10 in the 59-point economic plan put forward by former Massachusetts Gov. Mitt Romney last month is a pledge that the candidate, if elected, “will seek to amend" Sarbanes-Oxley, to make compliance with it "less onerous" for mid-sized companies. While Romney did not mention Section 404 explicitly, there was no mistaking which provision he had in mind."
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