SEC begins a small business cost-benefit study of SOX 404

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05 Feb 2008

The US Securities and Exchange Commission has launched a cost-benefit study of an upcoming auditor attestation requirement for smaller companies under Section 404(b) of the Sarbanes-Oxley Act of 2002. The study will collect and analyse 'real world' cost and benefit data from a broad array of companies currently complying with Section 404 under newly-issued guidance for companies and auditors.

In addition, the SEC proposed a further one-year extension of the Section 404(b) auditor attestation requirement for smaller companies – to financial years ending on or after 15 December 2009. The postponement would allow time for completion of the study. Click for SEC Announcement (PDF 38k).


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