Nonprofit group formed to cut SOX costs.

• Position: SOX News - Association of Audit Committee Members Inc. - Sarbanes-Oxley Act of 2002 - Brief Article

The Association of Audit Committee Members Inc., a nonprofit group catering to audit committees and the publicly held companies they monitor, was recently formed.

The group looks to collaborate and exchange information on corporate governance issues. But the main draw of the group may be its quest to lower the cost of director and officer liability insurance premiums for public companies and independent directors.

Frederick Lipman, a securities law expert...