A large school of thought has developed to support the argument that non-accelerated filers should be exempt from compliance with Section 404(b) of Sarbanes-Oxley, which requires external auditors to review and attest to the strength of a company’s internal controls.
But as much as non-accelerated filers denounce the burden of Section 404(b) compliance, they’re still confronted with one stubborn counter-argument: fraud happens.
