Sarbanes Oxley Impacting Smaller Companies

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Many private companies are strengthening their accounting practices so their large company customers can comply with the Sarbanes-Oxley act, Business Week reported. Financiers are also holding companies to a higher standard as conditions for deals, requiring documented audits and oversight committees, both Sarbanes-Oxley requirements. Colleen Cunningham, CEO of Financial Executives International, says compliance is not a matter of if, but when.