Frank Praises Cox and SEC for Work on Sarbanes-Oxley

Washington, DC - House Financial Services Committee Chairman Barney Frank today wrote to SEC Chairman Christopher Cox praising the work of the chairman and the commission for completing work on auditing standards for internal controls.  Below is the text of Frank’s letter:

The Honorable Christopher Cox
Chairman
Securities and Exchange Commission
100 F Street, NE
Washington, D.C. 20549

Dear Chairman Cox:

             I want to congratulate you and your fellow commissioners on finalizing the revisions to the Public Company Accounting Oversight Board’s auditing standard for internal controls.  I am pleased the Commission and the PCAOB were able to work together on this difficult topic to find a way to address concerns of excessive regulatory burdens without compromising the benefits for investors. 

            Thank you for your leadership on this issue.  I look forward to a successful implementation of AS 5 that benefits business and investors.  

Sincerely,

BARNEY FRANK