The US Securities and Exchange Commission and the Public Company Accounting Oversight Board announced on Thursday that they are seeking written feedback from registrants, auditors, investors and others on their experiences of complying with Section 404 requirements.
Interested parties are invited to submit comments before May 1. The submissions will then provide the basis of a roundtable discussion on the issue, which will be held on May 10 at the Commission’s headquarters in Washington, DC, to discuss second-year experiences with the reporting and auditing requirements of the Sarbanes-Oxley Act of 2002, related to companies’ internal control over financial reporting.
The roundtable discussion will include issuers, auditors, investors and other interested parties.
“Last spring’s informative roundtable resulted in valuable guidance,” explained SEC Chairman Christopher Cox, adding that:
“We look forward to an update on compliance efforts after year two. I’m pleased that the PCAOB is coordinating this year’s roundtable with the SEC. We will carefully consider the facts presented to help develop policies to effectively and efficiently improve the reliability of financial statements for the benefit of investors.”
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