Risk.net

Calls for delay to Section 404 deadline

Senate Small Business Committee leaders yesterday again urged regulators to postpone the implementation date of the Sarbanes-Oxley Act’s Section 404 requirements for non-accelerated filers, for up to one year after the final rules are issued.Under Section 404, issuers are required to publish information in their annual reports concerning the scope and adequacy of the internal control structure and procedures for financial reporting. The statement is also designed to assess the effectiveness