USA: Section 404 of the Sarbanes-Oxley Act 2002 and small public companies

The Securities and Exchange Commission has announced the extension of Section 404 of the Sarbanes-Oxley Act (2002) to small public companies in respect of annual reports ending on or after June 15, 2010. Such companies and their auditors will therefore be required to report on the effectiveness of internal controls. Further information is available here.