From this report:
Frank and his Senate counterpart, Connecticut Democrat Christopher J. Dodd, the new Banking Committee chairman, have both indicated they believe legislation isn’t needed to address concerns that the law’s auditing requirements are too burdensome on small companies. “I had already told Chris Cox and Mark Olson of the Public Company Accounting Oversight Board that we hoped they would use their statutory authority to reduce the amount that companies have to certify under Sarbanes-Oxley,” Frank told reporters in December. “I think there’s a general consensus: You can preserve the principles of Sarbanes-Oxley without exempting anybody, but by making it much less burdensome.”