The Dodd-Frank Act of 2010 amended Section 404 of SOX by exempting certain smaller companies from the requirement for an external audit of internal control over financial reporting. However, the current Administration in Washington D.C. has stated that it will dismantle Dodd-Frank. We presume that the aforementioned exemption from ICFR will also be removed. Do you agree with this? Do you believe that all publicly traded companies have a responsibility to report on ICFR?

A second (and related) question is whether you think that large privately held companies and not-for-profits should also report on ICFR? As an example, UPMC here in Pittsburgh has voluntarily reported on ICFR for the past few years.

Please write an articulate, thoughtful response to the questions above. This response should be 200-250 words in length.