A Republican member of the U.S. House Financial Services Committee says she wants Congress to hold hearings next year on the effects of Sarbanes-Oxley Act financial reporting rules on small businesses.[@@]
Rep. Sue Kelly, R-N.Y., chairman of the Financial Services Committee’s Oversight and Investigations Subcommittee, talked about plans for the hearing last week in Newport, R.I., at the summer meeting of the National Conference of Insurance Legislators, Troy, N.Y.
The difficulty of complying with Sarbanes-Oxley “is something that has concerned me for quite a while,” Kelly said.
Rep. Michael Oxley, R-Ohio, the chairman of the full committee, has “agreed we should hold hearings next year,” Kelly said.