Robert Zito Quoted in Securities Law 360 on New Auditing Standard

Litigation Partner Robert J.A. Zito was quoted in an article titled “New Auditing Standard is Win for Small Businesses” appearing in Securities Law 360 on June 5, 2007. This article explains in May 2007, the SEC’s new interpretive guidance for Section 404 of the Sarbanes-Oxley Act addresses the repeated protests of small businesses, who have long argued that auditing standard two, which governs the process for internal audits at public companies, is overly costly and largely unnecessary in many cases. Mr. Zito contributed to the article by explaining how “standard two was a couple of hundred pages of hoops that public companies had to jump through in order to satisfy section 404 of Sarbanes-Oxley.” In his experience, Mr. Zito commented that the biggest complaint of the standard was that unless companies go through standard two, they’re ineligible to become certified under 404.

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