Will the SEC be providing guidance on specific considerations relating to internal control over financial reporting for small business issuers?
Although the Commission’s final rule implementing Section 404 of the Act does not distinguish between large and small issuers, the Commission, as noted in the release accompanying the final rule, recognized that many smaller issuers might encounter difficulties in evaluating their internal control over financial reporting. The SEC staff would support efforts by bodies such as COSO to develop an internal control framework specifically for smaller issuers.
Related Questions
- Whats the difference between disclosure controls and procedures and internal control over financial reporting? Which controls do we have to certify?
- Will the SEC be providing guidance on specific considerations relating to internal control over financial reporting for small business issuers?
- What role does documentation play in the CEO/CFO certification of internal control over financial reporting?
