Chief Financial Officer Patrick Pichette on Thursday downplayed the competitive threat from social-networking giant Facebook Inc., arguing that the digital economy will create a “ton of winners.” “Everybody will benefit if the Web is more social,” he said. “It’s not a zero sum game.” [Dow Jones]
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CAQ to Senators Dodd and Shelby: Don’t Screw with Sarbanes-Oxley
- Caleb Newquist
- April 23, 2010
“We are writing to urge you in the course of your efforts to reform the financial sector to resist efforts to weaken protections for investors in the Sarbanes-Oxley Act of 2002 (SOX). Specifically, we oppose exempting smaller public companies from compliance with Section 404(b) of the Act. Further, we are troubled by evidence of a proposal to roll back to an arbitrary market capitalization point strengthened internal controls requirements for larger companies that are already in compliance with the provision.”
~ The Center of Audit Quality, in a letter to Senate Banking Chairman Chris Dodd (D-CT) and Ranking Member Richard Shelby (R-AL).
Accountants Still Don’t Have the Warm Fuzzies About the Economy
- Caleb Newquist
- August 13, 2010
“Uncertainty about the sustainability of the recovery continues to limit planned investment and hiring.”
~ Professor Mark Lang on the results of the AICPA/University of North Carolina’s Kenan-Flagler Business School survey of CPAs in leadership positions.
Small Business Saying Buh-Bye to Sarbanes-Oxley
- Caleb Newquist
- May 26, 2010
“I believe the votes are there whether I like it or not.”
~ Barney Frank, on the House provision that would exempt small and midsized businesses from complying with Section 404.