October 17, 2005
October 24/25th SEC Meeting of the Advisory Committee on Smaller Public Companies will be Interesting
The SEC is continuing to listen to the concerns of investors and stakeholders on the issues facing smaller public companies and especially around Section 404.
The October 24/25th meeting in Washington DC will finally yield some more decisions around what their expectations are for smaller public companies. The subcommittee on Section 404 is committed to diminishing the value of Section 404 for small companies. This is a big mistake and will "ghetto-ize" smaller companies.
How can one argue that internal controls are bad for any size company? It is a fact that smaller companies are more subject to fraud so this makes this mission even more ludcricrous.
Please do not take this dangerous course. We will all regret it!
The October 24/25th meeting in Washington DC will finally yield some more decisions around what their expectations are for smaller public companies. The subcommittee on Section 404 is committed to diminishing the value of Section 404 for small companies. This is a big mistake and will "ghetto-ize" smaller companies.
How can one argue that internal controls are bad for any size company? It is a fact that smaller companies are more subject to fraud so this makes this mission even more ludcricrous.
Please do not take this dangerous course. We will all regret it!
