The Securities and Exchange Commission will host an open meeting this week to review its plans to amend Section 404 of the Sarbanes-Oxley Act, as well as the Public Company Accounting Oversight Board’s tandem plans to revise Auditing Standard No. 2—both of which should, in theory, smooth the road for companies struggling to assess their internal controls over financial reporting.
The Commission will not vote on any proposed guidance, according to a statement from SEC Chairman Christopher Cox. Rather, the meeting—scheduled for Wednesday, April 4—is intended to help keep the SEC “on track” to consider final adoption of the management guidance in May.
