Business First of Louisville - April 27, 2007
by Kent Hoover
Washington Bureau Chief

We’re re-orienting 404 to focus on what truly matters to investors — and away from expensive and unproductive make-work procedures that waste investors’ money and distract attention from what’s genuinely material,” said SEC Chairman Christopher Cox.
“We’re pedal-to-the-metal on finishing this work, and we won’t require smaller public companies to have a section 404 audit until the new guidance and the new auditing standard are available to them with plenty of time to prepare,” Cox said.

Small public companies please read this article.  It finally appears that the SEC has  intervened and is taking the lead on new guidance for section 404 of Sarbanes-Oxley.
Read the rest of the story:
http://louisville.bizjournals.com/louisville/stories/2007/04/30/story14.html?b=1177905600^1453867&hbx=e_abd

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