December 20: Operational Risk - SEC Study Shows Simplification Needed to Override Complexity
Location: Washington, DC
Author:
Date: Tuesday, December 20, 2005
Many material weaknesses noted in the first Sarbanes-Oxley Section 404 report relate to misapplication of complex accounting standards. The American Institute of Certified Public Accountants recent task force found that current GAAP is too complex and not necessarily useful to the users of private company financial statements.
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