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Subject:
Item Title: SEC Begins Small Business Costs and Benefits Study of Sarbanes-Oxley Act Section 404
Summary:
The Securities and Exchange Commission announced that its professional staff has commenced a cost-benefit study of an upcoming auditor attestation requirement for smaller companies under Section 404(b) of the Sarbanes-Oxley Act of 2002.  The study will collect and analyze extensive "real world" cost and benefit data from a broad array of companies currently complying with Section 404 under newly-issued guidance for companies and auditors.  In connection with the study, the Commission unanimously proposed the one-year extension of the Section 404(b) auditor attestation requirement for smaller companies.  The extension would allow time for completion of the study.  Read on for more details. 
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