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Big4Guy: Sarbanes Oxley Approach for Small Business – What Not to Do

Big4Guy: Sarbanes Oxley Approach for Small Business – What Not to Do

by Rick Turoczy on October 2, 2006

Sarbanes Oxley is here to stay. Even though there had been speculations that the act would be repealed, but this seems unlikely. However, changes to the act are expected. SEC included small businesses under the purview of the SOX act. Though there is some relief for such small businesses since they have one year extension to file their first management report. For non-accelerated filers, they have one additional fiscal year ending after 15th December 2008 to carry out an auditor’s attestation of internal controls.

Many small companies have a lmited budget for regulatory compliance. Small companies require a practical approach towards SOX compliance. Rules for Sarbanes Oxley which apply to big businesses also apply to small companies. Only the approach towards applying those rules has changed. Specifically speaking, I can atleast list down three things small companies should not do in their Sarbanes Oxley compliance route.

Big4Guy: Sarbanes Oxley Approach for Small Business – What Not to Do

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