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SEC Moves to Ease Audits for Smaller Companies

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The SEC advances another plan to make it more attractive for smaller companies to go public

WASHINGTON—The Securities and Exchange Commission voted 3-1 on Thursday to advance a proposal that would exempt public companies with less than $100 million in annual revenue from regular outside audits, part of a broader effort to entice more companies to go public.

Under the plan, smaller public companies such as those in the health care, information technology and biotech industries would get a pass from outside audits of their systems for preventing accounting errors and fraud, easing rules put in place nearly two decades...

 

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Interesting, Is the cost of an audit from a public firm that much though? I would be interested in any other studies or analyses weighed against the cost to any investors.

Elizabeth Warren, are you watching this SEC move?

Uhhh, there must be a better way to accomplish this than easing FRAUD audits

What?

Why?

The plan is to allow these 'smaller' companies to bamboozle the unwitting public - and then, of course, blame losses on the stupidity of investors.

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