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Regulators reportedly proposing changes in rules that businesses argue cost them an average of $3.8 million without improving accounting accuracy.

Businesses that have been complaining about the cost of complying with the Sarbanes-Oxley corporate reporting regulations will get some, but not all, of the relief they’ve been seeking, according to a published report.

The Wall Street Journal reported Friday that federal regulators have said they will propose guidance next month to help companies and auditors interpret one section of the law, passed in the wake of the Enron accounting scandal, in a way likely to save them time and money.

The regulation, known as Section 404, requires companies first review their own systems for ensuring accurate financial reports and then have them tested by outside auditors. The Journal reports that companies have complained the rule requires them to spend many hours and that large companies spent an average of $3.8 million each in fiscal 2005 complying with the rule and documenting things that have nothing to do with the integrity of their financial statements.

CNN Money.com: Business may get Sarbanes-Oxley relief