April 04, 2006
What Can Small Business Expect from SEC Chairman Cox with respect to SOX 404?
Recent comments made by the SEC Chairman point to little or no "dilution" of SOX 404 (Management's Assessment of Internal Control over Financial Reporting) for smaller issuers.
As outlined in an article at CFO.com (Small-business 404 Waiver Unlikely: Cox) it appears that if you take the public's money you should expect the same compliance standard regardless of market capitalization and organizational size. Mr. Cox's emphasis will be on making the provisions of SOX 404 more efficient (i.e. - probably looking at the interpretation of AS2 audit standard, or the scope of auditor attestation).
For more information on the article please click here.
To understand how your emerging to mid-size business can affordably strengthen internal controls over financial reporting please go to www.issuescentral.com to learn more about the Compliance Playbook(R). If you are a Canadian-based issuer then go to www.compliancepartner.ca to obtain information on the Compliance Partner(tm) product.
As outlined in an article at CFO.com (Small-business 404 Waiver Unlikely: Cox) it appears that if you take the public's money you should expect the same compliance standard regardless of market capitalization and organizational size. Mr. Cox's emphasis will be on making the provisions of SOX 404 more efficient (i.e. - probably looking at the interpretation of AS2 audit standard, or the scope of auditor attestation).
For more information on the article please click here.
To understand how your emerging to mid-size business can affordably strengthen internal controls over financial reporting please go to www.issuescentral.com to learn more about the Compliance Playbook(R). If you are a Canadian-based issuer then go to www.compliancepartner.ca to obtain information on the Compliance Partner(tm) product.
