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by Paul Kerstein

Firms Get More Time On Sarbanes-Oxley Rules

News
Sep 23, 20051 min
CSO and CISOData and Information Security

The Securities and Exchange Commission yesterday gave small companiesone more year to comply with costly rules that require them to assessthe adequacy of their financial controls. The Washington Postreports that it is the second time the commission has approved a graceperiod for small businesses, which complain they have fewer resourcesto undergo the expensive reviews. A small-business advisory groupcreated by the SEC had pushed for a delay in the control rules mandatedby the Sarbanes-Oxley Act. Under the plan, public companies with amarket capitalization of less than $75 million will have until July2007 to review their financial controls. Read more.