小型发行人SOX 404(b)豁免的好处大于成本吗?

IF 0.8 Q4 BUSINESS, FINANCE Current Issues in Auditing Pub Date : 2021-01-22 DOI:10.2308/CIIA-2020-026

Amanda M. Convery, Carolyn B. Levine

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引用次数: 1

摘要

针对小型发行人的成本过高，超过了内部控制认证的好处的投诉，美国证券交易委员会自最初采用SOX 404(b)以来，已将基于规模的豁免扩大到SOX 404(b)。最近对豁免标准的修改重新点燃了关于SOX 404(b)要求价值的争论。本文总结了Levine(2009)提出的模型，描述了过度审计的条件，并为从业者、他们的客户和监管机构提出了解决方案。

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Do the Benefits of Small Issuer SOX 404(b) Exemptions Outweigh the Costs?

Responding to complaints that small issuers have disproportionately high costs that exceed the benefits of internal control attestation, the SEC has expanded size-based exemptions to SOX 404(b) since its initial adoption. Recent changes to the exemption criteria have rekindled the debate over the value of the SOX 404(b) requirement. This paper summarizes the model presented in Levine (2009), describes conditions for overauditing, and suggests solutions for practitioners, their clients, and regulators.

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来源期刊

Current Issues in Auditing BUSINESS, FINANCE-

CiteScore

1.60

自引率

12.50%

发文量