Friday, September 24, 2004

SEC May Help Businesses With Accounting

Securities regulators are considering ways to help small businesses cope with strict new corporate accounting and internal control rules, a senior Securities and Exchange Commission official told lawmakers Thursday.

In testimony to a House Financial Services subcommittee, SEC corporation finance division director Alan Beller said regulators are looking at ways they might "recalibrate" regulations for smaller firms.

Congress didn't exempt small companies from tough new requirements contained in the Sarbanes-Oxley Act of 2002, and Beller told lawmakers that improving corporate governance, accounting and financial controls "is important for all companies, regardless of size."

SEC May Help Businesses With Accounting

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