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Sarbanes-Oxley News & Developments
Bumper Crop of Corporate Probes A reminder of the value of legislation like the Sarbanes-Oxley Act.
> > Section 404 of Sarbanes-Oxley, which must be implemented in financial filings next year, also came in for criticism.
Daniel Ustian, CEO of Navistar International Corp stated, "Is this really doing anything from a practical standpoint? Is this really controlling? Is this really giving the company some benefit?." He was obviously mindful of a recent survey by Financial Executives International, which estimated that large companies will shell out an annual average of about $8 million to comply with Section 404 of Sarbanes-Oxley.
Source: CFO
Published:2004-10-20
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