Friday, June 18, 2010

Let the (Smaller) Crooks Alone

Let the (Smaller) Crooks Alone

It appears that the Congress is going to repeal the law that requires most public companies to have adequate financial controls, and to get that fact certified by auditors.

The companies affected would be the smaller ones, those worth under $75 million. That is the vast majority of public companies.

If it happens, it would be a tragedy, and mean that investors in small companies will continue to be much more likely to be victims of fraud.

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