With a few years of Sarbanes-Oxley implementation behind them, both the Securities and Exchange Commission and the Public Company Accounting Oversight Board announced concrete steps that they will follow in considering some tweaking of the sweeping corporate reform law.Both regulators proposed a series of steps to make revisions to the Section 404 internal control requirements laid out under SOX.
While there will be a further - albeit short - postponement of the Section 404 requirements for the smallest filers, the SEC said that all public companies will ultimately be required to comply with the internal control reporting requirements of Section 404.
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