arthur andersen, it was a republican president who signed in law the public company accounting reform and investor protection act. better known as sarbanes-oxley after the two sponsored or sox for short. free markets are not a jungle where only the unscrupulous survives. sox s heart and soul is section 404 which requires publicly held companies to include in the annual reports their own assessment of the internal accounting controls and that of an independent auditor. conservatives site compliance cost of 404, originally estimated by the securities and exchange commission to be $91,000 per company. but later revived upward by the sec to $2.8 million per company. smaller firms pay lower amount but higher cost of revenue. results in lower, decrease in ipo and u.s. exchanges. former congressman oxly defends his signature legislation but is open to amendments. i think a lot of people i talk to now say they feel it
arthur andersen, it was a republican president who signed in law the public company accounting reform and investor protection act. better known as sarbanes-oxley after the two sponsored or sox for short. free markets are not a jungle where only the unscrupulous survives. sox s heart and soul is section 404 which requires publicly held companies to include in the annual reports their own assessment of the internal accounting controls and that of an independent auditor. conservatives site compliance cost of 404, originally estimated by the securities and exchange commission to be $91,000 per company. but later revived upward by the sec to $2.8 million per company. smaller firms pay lower amount but higher cost of revenue. results in lower, decrease in ipo and u.s. exchanges. former congressman oxly defends his signature legislation but is open to amendments. i think a lot of people i talk to now say they feel it
u.s. tax code can be excruciating. new online video exposes complying with the code can be costly for you and your family. just complying with the tact code will cost us 338 billion dollars this year. the reason for this punitive compliance cost is politicians keep making the tax system more complicated. the chart you see on the screen shows the number of words of tax law and regulation just for the income tax has jumped from 718 in 1955 to more than 7 million in 2005. who knows how high it is now. dealing with that complexity is time-consuming. irs estimates we spend 7.6 billion hours each year dealing with the tax system. equivalent of nearly four million fulltime workers. i m afraid to speculate what that number is going to be knew obama has put the irs in
u.s. tax code can be excruciating. new online video exposes complying with the code can be costly for you and your family. just complying with the tact code will cost us 338 billion dollars this year. the reason for this punitive compliance cost is politicians keep making the tax system more complicated. the chart you see on the screen shows the number of words of tax law and regulation just for the income tax has jumped from 718 in 1955 to more than 7 million in 2005. who knows how high it is now. dealing with that complexity is time-consuming. irs estimates we spend 7.6 billion hours each year dealing with the tax system. equivalent of nearly four million fulltime workers. i m afraid to speculate what that number is going to be knew obama has put the irs in
u.s. tax code can be excruciating. new online video exposes complying with the code can be costly for you and your family. just complying with the tact code will cost us 338 billion dollars this year. the reason for this punitive compliance cost is politicians keep making the tax system more complicated. the chart you see on the screen shows the number of words of tax law and regulation just for the income tax has jumped from 718 in 1955 to more than 7 million in 2005. who knows how high it is now. dealing with that complexity is time-consuming. irs estimates we spend 7.6 billion hours each year dealing with the tax system. equivalent of nearly four million fulltime workers. i m afraid to speculate what that number is going to be knew obama has put the irs in