By Cydney Posner

The NYT is reporting that SEC Chairman Christopher Cox will testify at a hearing of the House Small Business Committee that he would propose delaying the SOX 404 rules until 2009 and that the decision on whether to require compliance would then be based in part on a study of costs to be conducted by the SEC’s economists. While it's not entirely clear from the article, it appears that the reference is only to the audit report component of SOX 404, not to the requirement for a management's evaluation of internal controls, which is currently required for fiscal years ending on or after December 15, 2007.

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