Previously, non-accelerated filers (companies that do not meet the Exchange Act definition of either an accelerated filer or a large accelerated filer) were scheduled to begin including both management's assessment and an auditor's attestation to management's assessment on the effectiveness of the filers' internal control over financial reporting in their annual reports for fiscal years ending on or after 15 July 2007.
- The extended date for providing management's assessment of internal controls is annual reports for fiscal years ending on or after 15 December 2007.
- The new date for compliance with the auditor attestation requirement is fiscal years ending on or after 15 December 2008.
Deferred implementation of the auditor's attestation report requirement will provide smaller public companies and their auditors with additional time to consider the anticipated revisions to Auditing Standard No. 2, as well as any implementation guidance that the PCAOB plans to issue for auditors of smaller companies. Click for
SEC Press Release (PDF 53k).