On June 26, 2008, the SEC announced that non-accelerated filers (public float less than $75,000,000) will be granted an extension on filing the auditor’s attestation report on internal controls over financial reporting for year ends after December 15, 2009. See below for summary extract or click here.
SECURITIES AND EXCHANGE COMMISSION 17 CFR PARTS 210, 228, 229 and 249 [RELEASE NOS. 33-8934; 34-58028; File No. S7-06-03] RIN 3235-AJ64 INTERNAL CONTROL OVER FINANCIAL REPORTING IN EXCHANGE ACT
PERIODIC REPORTS OF NON-ACCELERATED FILERS AGENCY: Securities and Exchange Commission.
ACTION: Final rules.
SUMMARY: We are adopting amendments to temporary rules that were published on December 21, 2006, in Release No. 33-8760 [71 FR 76580]. Those temporary rules require companies that are non-accelerated filers to include in their annual reports, pursuant to rules implementing Section 404(b) of the Sarbanes-Oxley Act of 2002, an attestation report of their independent auditors on internal control over financial reporting for fiscal years ending on or after December 15, 2008. Under the amendments, a non-accelerated filer will be required to file the auditor’s attestation report on internal control over financial reporting when it files an annual report for a fiscal year ending on or after December 15, 2009.
EFFECTIVE DATES: The amendments are effective September 2, 2008 except Form 10-QSB will be effective from September 2, 2008 to October 31, 2008; §228.308T and Form 10-KSB will be effective from September 2, 2008 to March 15, 2009; and §§ 210.2-02T and 229.308T, Form 20-F, Form 40-F, Form 10-Q, and Form 10-K will be effective from September 2, 2008 to June 30, 2010. 40-F.9
FOR FURTHER INFORMATION CONTACT: Sean Harrison, Special Counsel, Office of Rulemaking, Division of Corporation Finance, at (202) 551-3430, U.S. Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549-3628.
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