With revised Sarbanes-Oxley compliance guidelines due out by June and small businesses poised to enter the SOX fold at the end of this year, smaller public companies are resigning themselves to taking on the new regulatory hurdles.
At a hearing April 20 held by the Senate Committee on Small Business and Entrepreneurship, business leaders pleaded for another year to prepare for compliance with SOX Section 404, the onerous clause mandating reviews of a company’s internal controls over financial reporting. Even committee Chairman Sen. John Kerry, D-Mass., agreed that another delay might be wise.
