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| Tuesday, February 9, 2010 |
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ANALYSIS
March 2, 2009
Sagging Index no longer reflects what’s going on in the market, some say, Replacements? Google it, to start.
March 2, 2009
Downward price spiral will actually boost the cost of capital for most companies. CFOS, take note.
March 2, 2009
The latest bailout at AIG could be a preview of how the president will deal with Wall Street.
March 2, 2009
No corporate defaults. Big debt offerings. Percolating CP issuance. Things may be looking up in the capital markets.
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June 20, 2008 4:10 PM ET
The Securities and Exchange Commission today gave small public companies a new one-year exemption from complying with the Sarbanes-Oxley Act requirement that companies’ internal controls be audited by accounting firms. The commission has approved one-year exemptions for small companies every year since the law went into effect in 2002. The latest extension means companies whose market value is less than $75 million won’t have to disclose such audit findings in their annual reports until fiscal years ending on or after Dec.15, 2009. The announcement drew immediate fire from investor advocates. “The SEC should be cracking the whip, not enabling this reckless disregard for investor protection and market transparency,” said Barbara Roper, the Consumer Federation of America’s director of investor protection. “Small public companies still do not have basic protections in place designed to ensure that their financial statements are accurate.” In its statement, the SEC also said it had gotten approval from the Office of Management and Budget to collect data for its cost-benefit study of the implementation of Sarbanes-Oxley. Commission staff will start conducting interviews and doing a web-based survey of small companies’ costs and benefits, it said. SEC chairman Christopher Cox first proposed the latest one-year delay in congressional testimony in December. For the first time, however, companies of all sizes will have to file management reports on their internal controls this year. The Sarbanes-Oxley provision requiring outside audits has been particularly controversial because of the cost to small businesses. Today’s extension “is the latest in a series of Commission efforts to help reduce unnecessary compliance costs for smaller companies while preserving important investor protections,” the SEC statement said.
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Latest News
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