Small Businesses Awarded SOX Extension

The House approved a U.S. Chamber of Commerce-supported amendment that extends the current moratorium for Section 404 compliance (of the Sarbanes-Oxley law) for small businesses through FY2008.

The amendment, which was part of an appropriations bill, will give smaller public companies with a market value of less than $75 million more time to comply with Section 404 of Sarbanes Oxley by extending for one year the exemption from reporting and auditing requirements.

Leave a Reply

Your email address will not be published. Required fields are marked *