Sarbanes-Oxley Act: Consideration of Key Principles Needed in Addressing Implementation for Smaller Public Companies Page: 3 of 93
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Results in Brief
Smaller Public Companies Have Incurred Disproportionately
Higher Audit Costs in Implementing the Act, but Impact on
Access to Capital Remains Unclear
SEC and PCAOB Have Been Addressing Smaller Company
Concerns Associated with the Implementation of Section 404
Sarbanes-Oxley Act Requirements Minimally Affected Smaller
Private Companies, Except for Those Seeking to Enter the
Smaller Companies Appear to Have Been Able to Obtain Needed
Auditor Services, Although the Overall Audit Market Remained
Agency Comments and Our Evaluation
Appendix I Objectives, Scope, and Methodology 61
Appendix II Additional Details about GAO's Analysis of Companies
Going Private 73
Appendix III Comments from the Securities and Exchange
Appendix IV Comments from the Public Company Accounting
Oversight Board 86
GAO Contacts and Staff Acknowledgments
GAO-06-361 Sarbanes-Oxley Act Challenges for Small Companies
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United States. Government Accountability Office. Sarbanes-Oxley Act: Consideration of Key Principles Needed in Addressing Implementation for Smaller Public Companies, report, April 13, 2006; Washington D.C.. (digital.library.unt.edu/ark:/67531/metadc302027/m1/3/: accessed December 18, 2018), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.