SEC extends deadline for Sarbanes-Oxley compliance

SEC extends deadline for Sarbanes-Oxley compliance

[JURIST] The Securities and Exchange Commission Tuesday unveiled new rules that give more time to more than 2,000 public companies struggling to compile reports on their safeguards against fraud and bad financial reporting. Smaller companies are having trouble meeting the reporting requirements mandated by Section 404 of the Sarbanes-Oxley Act [PDF], including the documentation of the existence and effectiveness of internal controls as well as an auditor review of the reports. Read this SEC press release and more from the Financial Times.