Michael Oxley: "We Did a Good Job"

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Michael Oxley: "We Did a Good Job"

October 3, 2006 12:29 PM
From BusinessFinanceLink, Issue #352

At the Dow Jones Private Equity Analyst Conference last week, Ohio Republican and chairman of the House Financial Services Committee Michael Oxley defended the legislation he crafted with Maryland Senator Paul Sarbanes four years ago, saying, "We did a good job, all things considered." Oxley also admitted that the cost of compliance has been difficult for small companies, and predicted that the SEC will ease the burden in the near future by allowing more accounting reviews to be performed by companies' own auditors. He does not, however, expect a major overhaul of the legislation by Congress.