As expected, the Securities and Exchange Commission will likely grant smaller public companies and most foreign private issuers an extension on having to comply with the internal controls provisions of the Sarbanes-Oxley Act.
The initial reporting date for small public companies will be moved back six months, to fiscal years ending on, or after, Dec. 15, 2007, and full compliance won't be required until the company's first annual report for a fiscal year ending on, or after, Dec. 15, 2008.
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