Regulators mull audit extension for small firms
Small companies might get a reprieve for meeting auditing requirements under the Sarbanes-Oxley Act.
Small companies might get a reprieve for meeting auditing requirements under the Sarbanes-Oxley Act. The SEC recently proposed giving small companies until at least Dec. 15, 2009, to meet the requirement that an auditor sign off on internal controls over financial reporting. Under existing rules, such companies are scheduled to meet that mandate for annual reports filed for fiscal years ending on or after Dec. 15, 2008. Comments were due several months ago. For details, visit www.sec.gov/rules/proposed/2008/33-8889.pdf.
Learn more about reprints and licensing for this article.