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SEC mulls Sarbanes-Oxley changes

SEC mulls Sarbanes-Oxley changes

by Rick Turoczy on May 26, 2006

If a small, private Colorado Springs technology company like Celis Semiconductor were to go public, it would open a doorway to greater investor capital and a shot at exponential growth.

But for small companies, there’s one daunting hurdle in the equation – Sarbanes-Oxley.

The reporting rules for small companies will become effective in July 2007.

When that happens, some say the requirements, especially ones found under Section 404 of the act, will diminish the opportunity for small companies that consider an initial public offering.

“It’s very expensive,” said LuAnn Hanson, Celis’ chief financial officer. “It’s cumbersome and very difficult for small businesses that don’t have the resources.”

SEC mulls Sarbanes-Oxley changes

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