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Fed up with Sarbanes-Oxley? Fancy telling the SEC what you think of 404? Well on April 13th, you will get your chance.

The SEC (Securities and Exchange Commission) is holding a roundtable discussion on section 404 of the Sarbanes-Oxley Act 2002.

The meeting is open to the public on first come first serve basis. A web cast is also planned. Written submissions are also invited. An online form is available to submit comments.

Section 404 is probably the most contentious part of the act. Certainly it has been the most costly to ensure compliance with. The section requires company executives and auditors to attest that adequate internal controls exist in the company to ensure accurate financial reporting. Furthermore the effectiveness of the controls is also attested to.

Views of auditors, registrants, investors and any one else affected are sought by the SEC. One drawback is that all comments will become part of the public record.

Written submissions need to be in by April 1st.

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Sarbanes-Oxley Act 2002

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internal controls