Yesterday (Jan. 16) the SEC issued a press release announcing it has extended the deadline on its Sarbanes-Oxley Section 404 implementation survey. As we previously reported, the survey was launched in December; as announced yesterday by the SEC, the survey deadline has been extended to January 31.
The SEC is trying to gather information through the survey, and through interviews with company management, as to registrants’ views and related data on the implementation of internal control reporting under Sarbox 404 and related SEC and PCAOB rules, to determine the impact of new guidance issued by the SEC (management guidance) and PCAOB (AS5, which replaced AS2) in 2007, which were aimed at improving the cost/benefit balance and making internal control reporting more efficient and effective, as well as identifying if further improvements can be made.
Surveys are not submitted anonymously, and participation in the survey is voluntary.
Further information, including links to the survey and contact information at the SEC for related questions, can be found in the press release