That elicits a negative response from almost 95 percent of the respondents in American companies from Krispy Kreme to Xerox to Coca-Cola.

We really believe it is incredibly important to have it a good cost/benefit analysis done at the very beginning.

As I said in my opening statement, we are in a fragile economic recovery right now.

I think we need to be very careful as we impose new burdens, new regulations, and requirements upon them.

It seems like the overwhelming majority... are not just negative but overwhelmingly negative.

United States Steel has indicated the mandatory audit firm rotation will result in increased costs and inefficiencies.

We believe that if we are required to use a new accounting firm for audit services, we would also need to use that firm for tax services.

I appreciate Mr. Fitzpatrick's questions, the cost/benefit analysis.

I understand that Representative Fitzpatrick is considering draft legislation that would prohibit the PCAOB from mandating audit firm rotation.

At this point, I am going to ask unanimous consent to make three written statements a part of the record.

We think that the draft bill that you have put forward, Mr. Fitzpatrick, actually delineates the lines that Sarbanes-Oxley stated.