Sarbox Struggles? Sen. Kerry to the Rescue

Lora Bentley

In case you missed it late last month, Sen. John Kerry (D-Mass.) is the latest to attempt to save small businesses from Sarbanes-Oxley. Kerry recently introduced a bill -- the Small Business Sarbanes-Oxley Assistance Act of 2006 -- that would empower the U.S. Small Business Administration to award grants to small businesses to help allay the cost of complying with Sarbox.

 

The new bill would also assemble a task force to work toward simplifying compliance for small businesses, according to a U.S. Newswire release. Assembled by the U.S. SBA Chief Counsel for Advocacy, the task force would report twice a year with recommendations on cutting out some of the red tape associated with Sarbanes-Oxley compliance.

 

Though Securities and Exchange Commission Chairman Christopher Cox has said that SEC rulemaking can fix the problems with Sarbox without legislative help from Congress, maybe a measure like Kerry proposes is just what small businesses need to fill the gap.



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