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Reforming The Reform

Regulators consider ways to make Section 404 of Sarbanes-Oxley less burdensome for small and midsize companies

By John Labate | Updated on February 01, 2005

James Thyen, CEO and president of Kimball International Inc., knows firsthand that compliance with the Sarbanes-Oxley Act’s Section 404 does not come cheap. In the year and a half since Kimball began making modifications and preparing for its internal controls assessment, the $1.15 billion global manufacturer of furniture and electronics, based in Jasper, Ind., has had to spend at the rate of $1 million a year on additional costs from such items

as markedly higher audit fees, expanded staffing and the like.

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