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Laggards Warned on Sarbox 404 Compliance

Laggards Warned on Sarbox 404 Compliance

by Rick Turoczy on November 2, 2004

There’s also the feeling that investors will punish those businesses that aren’t in full compliance with that provision of Sarbanes-Oxley, according to a newly released report.

This summer, reported that many companies were falling behind in their preparations for Section 404 of the Sarbanes-Oxley Act. (See “No Vacation from Section 404 Prep Work.”) Section 404 — which will guide how auditors report on companies’ assessments of their internal controls — becomes effective with companies’ first fiscal year ending after November 15.

Less than two weeks before that date, however, many companies are apparently still unprepared. PricewaterhouseCoopers and Ernst & Young recently warned a number of clients that they remain behind schedule and might be required to report control weaknesses at the end of this year, according to The Washington Post.

Laggards Warned on Sarbox 404 Compliance

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