Financial reporting rules boost trust—but small firms still face steep compliance costs

Keeping financial reporting honest is critical but for smaller public companies, meeting Sarbanes-Oxley requirements can be a costly challenge. A new GAO report finds that while compliance boosts transparency, the burden of auditor fees and internal controls hits small firms harder, raising questions about how to strike the right balance. Here to fill us in on their findings is Director, financial Markets and Community Investment at GAO, Michael Clements. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info .