SOX 404(b) Deferral Provides Time to Get It Right
Manufacturing and Distribution
October 09, 2009
by
Eric Waldron, CPA
In an unexpected decision, the Securities and Exchange Commission (SEC) provided nonaccelerated filers (public companies with a public float below $75 million) a six-month deferral on Sarbanes-Oxley (SOX) 404(b) compliance. This unexpected announcement is a great opportunity for affected public companies to kick-start or fine-tune their SOX programs. By taking advantage of this delay, management will be well positioned to receive a clean auditor opinion on their internal controls over financial reporting (ICFR) when the requirement kicks in next year.
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Length: 1 pages (PDF 58 kB)