small business

Fresh SEC Guidance for Small Filers

Karen Kroll February 28, 2012

Take heart, all you overworked, overwhelmed non-accelerated filers! The SEC has published its latest batch of guidance for small public companies, a 54-slide summary of filing errors and issues common to non-accelerated filers. From musings about the MD&A to questions about controls, and extra tips on how to ask the SEC for help, it's all in there.

Senate Passes 1099 Repeal Amendment

Melissa Aguilar February 03, 2011

Businesses may get the relief they're seeking from an onerous tax reporting provision tucked into the 2009 healthcare reform law. The Senate has voted to repeal the portion of the law that called for a massive expansion in the number of 1099s companies would need to file.

Repeal of 1099 Reporting Expansion Fails Again

Melissa Klein Aguilar November 30, 2010

Another day, another failure in the U.S. Senate to resolve a coming paperwork nightmare for corporations: expanded reporting of Form 1099 to comply with healthcare reform. Two amendments to alleviate the burden died in the Senate on procedural votes earlier this week.

Senators File Amendment to SOX 404(b) Exemption

Melissa Aguilar May 07, 2010

Gear up for more fighting on SOX 404: An amendment to Senate financial reform bill would exempt companies with less than $150 million in public float from Sarbanes-Oxley's outside auditor attestation requirement, which would include some companies already complying with the provision.Sen. Kay Bailey Hutchison (R-Texas) and Sen. Mary Landrieu (D-La.), chair of the Committee...

SOX Clock Ticking, Senate Financial Reform Bill Advances

Melissa Aguilar March 22, 2010

A key Senate committee has passed sweeping financial reform legislation, advancing the Dodd regulatory bill for consideration by the full Senate, moving lawmakers a small step forward in their effort to overhaul the U.S. regulatory system.The Senate Banking Committee on Monday evening voted 13-10 along party lines to approve the...

Key Congress Committee Approves SOX 404 Exemption

Melissa Aguilar November 04, 2009

The House Financial Services Committee formally approved an amendment this morning to exempt small companies from Section 404(b) of Sarbanes-Oxley.On a 37-32 vote—that, notably, went against the wishes of powerful committee chairman Rep. Barney Frank—the lawmakers approved an amendment to the Investor Protection Act that would exempt all non-accelerated filers...

SOX Exemption Bill Introduced

Melissa Aguilar October 09, 2009

Here we go again. Roughly a week after the Securities and Exchange Commission announced what it vowed its last extension for non-accelerated filers to comply with the auditor attestation requirement under Section 404(b) of Sarbanes-Oxley, Congress has revived efforts to exempt those companies from the provision.Rep. Scott Garrett (R-N.J.) on...

Some Cos. Won’t File 404(b) Reports in 2008 10-Ks

Melissa Aguilar December 05, 2008

There may be a silver lining for some smaller companies who’ve been hammered by the market downturn. Issuers who have seen their public float clobbered in recent months may not be required to file the auditor attestation on internal control over financial reporting with their 2008 annual reports if they’re...

Staff Posts Guide On Cross-Border Changes

Melissa Aguilar December 05, 2008

The Securities and Exchange Commission staff has posted a small entity compliance guide to help filers comply with the amendments to its rules governing certain cross-border business combination transactions and rights offerings.The amendments to the cross-border exemptions, adopted Aug. 27, are effective as of Dec. 8 and apply where the...

SOX 404 Cost-Benefit Study Due in Late Spring '09

Melissa Aguilar October 31, 2008

With the financial crisis hogging the headlines, it’s been a while since we’ve had news to report on 404. For those who were wondering, it appears the Securities and Exchange Commission’s cost-benefit study of Sarbanes-Oxley Section 404 is underway. Albeit a bit behind schedule. A press release from Wake Forest...

SEC Forum on Small Biz Capital Formation

Melissa Aguilar October 24, 2008

The Securities and Exchange Commission has announced its annual forum focusing on capital formation concerns of small business.Not surprisingly, this year’s event will focus on the impact of recent capital market events on small-business capital formation in the United States, and, in particular, on the small-business impact of the Emergency...

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Survey of the Week

Deloitte is conducting their annual Look Before You Leap: Managing Risks in Global Investments survey to better understand the approaches companies are taking to address compliance and integrity-related risks in emerging markets.