ALSO NOTED: Oxley blames the PCAOB; Conflicts of interest for directors over pay?;

> A new survey has found what we would expect: In year three, Sarbox costs should decline, automation is on the rise, as is a more risk-based approach. Interestingly, the stock options scandals have led to little change. Release

> It's not exactly man bites dog, but another Big Four audit firm (KPMG) has sued a client (Fannie Mae). Article

> A new conflict for directors: Their own pay. The average pay of a large company director is now $200,000, up 75 percent from 2000. The pay is warranted by the workload, which is higher in the Sarbox era. But as compensation mounts, more approved increases may not go over so well with shareholders. Article (sub. req.)

> Fox guarding the henhouse: Compliance office in charge of blackout dates charged with insider trading. Article

> It's well-known that Michael Oxley is not all that happy with the law that he authored. In part, he blames the PCAOB. Article

> Scrushy to pay $81 million to settle SEC suit. Article

> Biotech drumbeat for small-company reform continues. Article

> PWC's license in Russia is renewed. Article

> An interesting bit of commentary on self-service Sarbox tasks. Article

And finally... Another Enron fraud. Article