In an article by Carrie Johnson from the Washington Post called
"Small Firms Get More Time On Sarbanes-Oxley Rules",
published on Thursday, September 22, 2005, the Securities and Exchange Commission
on Wednesday, September 23, gave small public companies with a market capitalization of less than $75 million,
until July 2007 to comply with costly rules that require them to assess the adequacy of their financial
controls, under the Sarbanes-Oxley
Act (Sarbox). This is the second time that it has been extended
due to small businesses' complaints that they have fewer resources to
undertake the expensive reviews.
See
the article "Small Firms Get More Time On Sarbanes-Oxley Rules"
for the whole story.
www.washingtonposts.com
- September 22, 2005
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