Gartner Tells SMBs To Use Sarbanes-Oxley Extension

Small- and medium-sized businesses should put the time to good use recently awarded them by the Security and Exchange Commission (SEC) as it extended the deadline for compliance with Sarbanes-Oxley, a research firm said.

Last week, the SEC extended the compliance date a full year for financial disclosure set by Section 404 of Sarbanes-Oxley for those U.S. companies with a market capitalization under $75 million. These companies must now report their internal control processes for the fiscal year ending on or after July 15, 2006.

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