Senate Banking Committee, house financial services committee hold oversight hearings on Sarbanes-Oxley Act.

• Position: Brief Article

Last month the Senate Banking Committee began a set of hearings to review implementation of the Sarbanes-Oxley Act. Securities and Exchange Commission Chairman William Donaldson testified and committee chairman Senator Richard Shelby (R-Ala.) presented the opening statement at the first hearing, on Sept. 9. At press time, additional hearings before the banking committee were expected, with one scheduled for Sept. 23. Public Company Accounting Oversight Board Chairman William McDonough was among those scheduled to testify at that hearing.

In addition, the House...