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Sarbanes-Oxley News & Developments
Company Size and 404 ComplianceThere are 'pronounced differences' between larger and smaller companies regarding Section 404 of Sarbox.
> > How companies approach compliance with Section 404 of the Sarbanes-Oxley Act varies widely, depending upon the size of the company, a survey has found.
A recent survey of 96 finance directors and financial controllers of U.S. public companies, there are "pronounced differences" between larger and smaller companies, especially in defining the scope of the program and incorporating software applications.
Another interesting finding is that a majority of companies plan to integrate Section 302 certification with the implementation of Section 404; in fact, nearly 21% of companies integrated them right from the beginning. Less than 3% of larger companies plan to approach certification separately, compared with 13.6% of smaller companies.
Source: CFO
Published:2004-06-08
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