Sarbanes-Oxley extends Section 404 survey deadline
Seeks feedback on new audit review rules
The Securities and Exchange Commission’s Office of Economic Analysis has
extended the deadline to January 31 for public companies to participate in a
survey on the costs and benefits of Section 404 of the Sarbanes-Oxley Act 2002.
The SEC is keen to find out how UK companies fared in complying with Section
404. It is particularly concerned about smaller companies which are required
under 404(b) to have an independent audit of their internal controls over
financial reporting.
The SEC says the cost-benefit study will help it to assess if the additional
measures required of companies as part of 404 have helped reduce compliance
costs.
The survey can be taken at
https://404survey.sec.gov