12:00 AM
May 28, 2007
 |  BioCentury  |  Regulation

SOX clock countdown

Time has run out for the smallest public companies, which have not yet had to file their financial reports in accordance with the internal controls requirements of Section 404 of the Sarbanes-Oxley Act. Despite repeated congressional calls for another extension for these companies, the Securities and Exchange Commission last week said these companies will have to comply with SOX for their FY07 financial reporting.

The decision means the so-called non-accelerated filers - companies with a public float of less than $75 million at June 30 - this year will be required to file management...

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