Congress is poised to exempt small companies from rule that requires external audits of internal controls

06/21/2010 | Hartford Business Journal (Conn.)

The financial-reform legislation making its way through Congress contains language that would exempt public companies with market capitalizations under $75 million from an accounting rule that requires increased oversight from external auditors over internal controls. One industry expert notes that if the bill becomes law, about half of all publicly held companies would not be required to have their internal controls tested by independent auditors.

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Hartford Business Journal (Conn.)

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