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House OKs Delay Sarbanes-Oxley 404 Compliance for Small Businesses

N.J. Representative Scott Garrett proposed an amendment (page 147) to a large government appropriations bill that prohibits the SEC from enforcing the internal controls requirements of Section 404 on non-accelerated filers.  This would delay the pending effective date of compliance for businesses with less than $75 million in public float.  The Senate has not passed a similar provision – so the bill is not law at this time.   

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Filed under: REAL WORLD

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