Sarbanes-Oxley Section 404
A Guide for Small Business
July 14, 2017
For 2007 annual reports, smaller public companies need to assess their internal control over financial reporting.
It doesn't have to be a chore.
Other Sources of Guidance
The SEC has published many other sources of useful guidance that can help smaller companies perform the management assessment of internal controls under Sarbanes-Oxley Section 404. You should start with the SEC's website at http://www.sec.gov/spotlight/soxcomp.htm. Other good sources are:
- The SEC's June 2003 Implementing Rules
- The SEC's June 2007 Interpretive Guidance
- The SEC's Rules Defining Material Weakness and Regarding Voluntary Use of the Interpretive Guidance
- The SEC's Rule Defining Significant Deficiency
- The SEC Staff's FAQs