Audit extension possible for small firms
Small companies might get a reprieve for meeting auditing requirements under the Sarbanes-Oxley Act of 2002.
Small companies might get a reprieve for meeting auditing requirements under the Sarbanes-Oxley Act of 2002. Last month, the SEC posted for public comment its proposal to give small companies until at least Dec. 15, 2009, to meet the requirement that an auditor sign off on internal controls over financial reporting. Currently, such companies are scheduled to meet that mandate for annual reports filed for fiscal years ending on or after Dec. 15. Comments were due March 10. For more details, visit sec.gov/rules/proposed/2008/33-8889.pdf.
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