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ARTICLE · 01 MARCH 2005

Governance in Brief

Deloitte
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In brief: The Securities and Exchange Commission are considering giving foreign companies an extra year to comply with rules that require them to test and report on their internal controls.

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SEC May Delay s404 For Foreign Companies

In brief: The Securities and Exchange Commission are considering giving foreign companies an extra year to comply with rules that require them to test and report on their internal controls.

The delay would mean foreign companies with US listings would not have to comply with section 404 of the Sarbanes-Oxley Act until 2006. Under the existing SEC timetable, foreign companies are due to comply with section 404 from July this year. A revised compliance date may be announced as early as the end of this month.

Date:

 11 February 2005

Source

: Financial Times

Further info:

 www.ft.com or www.sec.gov/spotlight/sarbanes-oxley.htm

Review of Directors’ Remuneration disclosures

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