Wednesday, June 28, 2006
Nasdaq CEO sees Sarbanes-Oxley changes in 2007
Nasdaq Stock Market Inc. Chief Executive Robert Greifeld said on Tuesday he expects changes to the Sarbanes-Oxley corporate reform law in 2007.
The Nasdaq chief said he sees the changes will come within the law's stiff internal controls accounting mechanisms -- known as Section 404 -- and how it is applied and judged.
"I make the prediction that in 2007 we will see refinement of the Sarbanes-Oxley Act whether it comes directly from the legislature or Congress getting involved with the (U.S. Securities and Exchange Commission)," said Greifeld, speaking at Stanford University's Directors' College forum.
"When we look at what's wrong with Sarbanes-Oxley, we know we have to have a risk-based approach to the rule in general that will apply to the 404 section," he said, addressing an audience of corporate directors at publicly traded companies.
posted by Brian Moran @ 9:39 AM