NY Times: S.E.C. Eases Audit Rules but Rejects Exemptions

Small firms and even academic researchers (see for instance Linck, Netter, and Yang 2005) have noted that the costs of Sarbannes-Oaxley compliance are higher for small companies. In part as a response to the complaints, the SEC tried to make things easier.From the NY Times:"The Securities and Exchange Commission moved yesterday to make audit rules that have angered many companies easier and less