SOX deadline moved once again…

October 6, 2009 by Robert Rhodes.

On October 2, 2009, the Securities and Exchange Commission (“SEC”) issued a press release giving nonaccelerated filers (those public companies with a public float, as measured at the end of their second fiscal quarter, of less than $75 million) additional time to comply with the requirements of  Section 404(b) of the Sarbanes-Oxley Act.  Section 404(b) will now apply to the annual reports of nonaccelerated filers for fiscal years ending on or after June 15, 2010.  As a refresher, Section 404(b) established the requirement for a company’s audit firm to issue an audit opinion on the effectiveness of a company’s internal control over financial reporting (“SOX Opinion”).  The requirement for a separate SOX Opinion was in addition to management’s report on internal control over financial reporting (“Management’s Report”). 

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