Professor Carney: Sarbanes-Oxley too Expensive for Small CompaniesBy: Beverly James
Professor William Carney was interviewed on April 19 by Minnesota Public Radio's "Marketplace" on how the Sarbanes-Oxley Act may be revised so that small companies can comply. Those who favor the exemption from one section of the Act say small companies can't afford to hire special auditors. "We've had kind of a two-tiered market of companies. Some of them have sales as small as, say, $25 million a year, all the way up to companies with sales in the hundreds of billions of dollars a year. And we've got a one-size-fits-all regulation which is very, very expensive for these small companies," Carney said.
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