Main Street Could Get Hosed If Swamp Compromise On Stablecoin Comes To Fruition
Senators Thom Tillis and Angela Alsobrooks released their long-awaited compromise on stablecoin yield last week. The deal, embedded in Section 404 of the Digital Asset Market Clarity Act, bars stablecoin firms from…
Opinion · 1 source · Jul 2, 2026Read itThe journal
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About SOX 404 top–down risk assessment
In financial auditing of public companies in the United States, SOX 404 top–down risk assessment (TDRA) is a financial risk assessment performed to comply with Section 404 of the Sarbanes-Oxley Act of 2002. Under SOX 404, management must test its internal controls; a TDRA is used to determine the scope of such testing. It is also used by the external auditor to issue a formal opinion on the company's internal controls. However, as a result of the passage of Auditing Standard No. 5, which the SEC has since approved, external auditors are no longer required to provide an opinion on management's assessment of its own internal controls.
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