The Committee of Sponsoring Organizations of the Treadway Commission has finally published for comment its long-awaited draft of guidance for smaller public companies on using its framework to address the internal control provisions Sarbanes-Oxley.
For months, companies and regulators have been anxiously awaiting the 207-page guidance, which was finally issued last week. Its expected arrival was part of the reason the Securities and Exchange Commission cited in its September decision to delay the effective date of Section 404 of the Act by another year for smaller public companies (see related coverage in box at right).
