Saturday, February 23, 2008

Small companies also can benefit from Sarbanes-Oxley

If you listened carefully, you could almost hear the collective sigh of relief from 5,000 smaller public companies when Securities and Exchange Commission (SEC) Chairman Christopher Cox proposed yet another extension to the Sarbanes-Oxley (SOX) deadline for an external audit of Internal Control over Financial Reporting (ICFR).

The SEC previously appeared to be steadfast in upholding the set deadline for non-accelerated filers, or public companies with less than $75 million in public float, even though the business community continued to complain that SOX was too costly. The SEC is expected to vote on Cox’s proposal early this year and decide if that sigh of relief was premature.

Small companies also can benefit from Sarbanes-Oxley

Labels: 404 delay, SEC (Securities and Exchange Commission), small business

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