Business advisors Grant Thornton LLP have applauded the SEC and the PCAOB for their efforts in addressing the legitimate concerns of the capital markets while still reinforcing the value of Sarbanes-Oxley to investors.

“We believe that the new guidance and auditing standards strike an appropriate balance between efficiency and effectiveness, though it will take time to fully realize the effects,” the company said in a statement.

It added: “We believe that the current efforts of the Committee of Sponsoring Organizations of the Treadway Commission (COSO) will help organizations more efficiently monitor the effectiveness of their internal control systems throughout the year. COSO recently commissioned Grant Thornton LLP to develop guidance - scheduled for completion in early 2008 - that will include in-depth guidance for implementing the monitoring component of COSO’s Internal Control — Integrated Framework.”

A public discussion document regarding this guidance should be available in June 2007.

[1] Investorsoffshore: Advisors Applaud SEC, PCAOB For Addressing Sarbanes-Oxley Concerns