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AUDITING
SEC Chairman Christopher Cox highlighted the importance of communication between management and auditors during recent testimony before the House Committee on Small Business. “Managers and auditors should talk,” he said. “And not just managers, but audit committees should have a healthy and ongoing dialogue with their auditors about the company’s internal controls.” He added that “no auditor independence rule, or any other rule or standard,” bars such communication. To read the entire statement, visit www.sec.gov/news/testimony/2007/ts060507cc.htm .