SEC Looks To Extend SOX Deadline

Law360, New York (December 12, 2007, 12:00 AM EST) -- Small businesses may get yet another reprieve from complying with certain provisions of the Sarbanes-Oxley Act, after U.S. Securities and Exchange Commission Chairman Christopher Cox proposed allowing small companies an additional year to fulfill the regulation's audit verification requirement.

Speaking before the House of Representatives Small Business Committee on Wednesday, Cox advocated for delaying mandatory compliance with Section 404 of the act until the results of a cost-benefit study of Section 404 of SOX have been received and analyzed.

Cox said he expects the results in...
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