SEC Launches Study Of New SOX Exemption Rules

Law360, New York (February 1, 2008, 12:00 AM EST) -- The U.S. Securities and Exchange Commission announced on Friday that it has launched a cost-benefit study of its new rules on auditor attestation requirement for smaller companies, and proposed extending the deadline for companies to comply with the new rules by a year.

The rules will expand the number of businesses able to claim exemption from the requirement under Section 404(b) of the Sarbanes-Oxley Act of 2002 to provide auditor attestation of their finances. The newly announced study aims to determine the likely effect of the...
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