September 13, 2005
SOX Application to Small Business Delayed Again
The Securities and Exchange Commission will give small publicly-traded businesses a one-year delay on top of a previous one-year delay to compy with Section 404 (the internal controls section) of the Sarbanes-Oxley Act of 2002. Smaller businesses have argued that the Section is too expensive and burdensome. Small companies, according to a survey by FEI, will spend an average of $825,000 a company to comply with the section. The SEC rules under this section are a mess.
September 13, 2005 | Permalink
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