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CFOs High-five on 404 Rollback Bill

But some accounting experts despair over a resulting lack of checks on management's assessment of internal controls of financial reporting.

November 18, 2009

The news last week that the requirements of Section 404(b) of the Sarbanes-Oxley Act might never, ever come to bear for small companies had Jeff Klausner, CFO of Infosonics, a wireless-equipment provider with a market cap of around $14 million, "doing backflips," he says. "This wouldn't change anything that we do; it would just save us a bunch of money on audit fees." Read more...

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