The Securities and Exchange Commission’s closely watched Advisory Committee On Smaller Public Companies made some last-minute additions last week to recommendations on exempting small businesses from Sarbanes-Oxley’s Section 404, including the idea that some form of “indexing” be included for its suggested revenue filters.
Committee member Richard Jaffee, chairman of the board of Oil-Dri Corp., suggested the plan at the committee’s penultimate meeting last week, as a way to make sure exemption thresholds “don’t get stale in a few years.” In an interview after the meeting, Committee co-chair Herbert Wander did not provide any further details.
