Frequency of Certification 1903
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Hi,
Our CFO has just informed me that he has seen a notice somewhere which states that mangement certification for SOX is to be increased from annual to quarterly.
I have never seen such a statement and was wondering if anyone can confirm this new requirement and history behind this?
Thanks
EMM
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Hi EMM - In addition to the annual sign-off and certifications required for SOX 302, there are also ‘sub-certifications’ associated with quarterly reporting. Outside of that, I’m not aware of any SOX 302 related changes for certifications.
Please paste to browser and add www
google.com/search?hl=en-and-q=sox 302 quarterly certification
theiia.org/gain/subcertsum_results.html
sec.gov/rules/final/33-8238.htm
Some of the SOX 2007 improvement initiatives are noted here:
http://www.sarbanes-oxley-forum.com/modules.php?name=Forums-and-file=viewtopic-and-t=1890
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THanks Harry.
That’s what I thought…
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I’m probably missing the point here but I thought:
- this is not relevant for foreign issuers
- this has always been a requirement.
Am I wrong?
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I’m probably missing the point here but I thought:
- this is not relevant for foreign issuers
- this has always been a requirement.
Am I wrong?
This is my understanding.
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You are correct in some ways Wrightlot.
Our filing requirements as a small accelerated FPI are an annual 20F only.
Therefore we only need to certify once a year.
I am not familiar with US filers, but I think the certification frequency is based on the number of times you need to file forms to the SEC (correct me if I am wrong here).
I had raised the query because our CFO had read an article which stated that SOX certification was always on a quarterly basis. Such a generalisation of course, put us all here in Ireland into a state of panic.
Can you provide any further input into this Denis, seeing as you are in the UK?
Thanks,
EMM
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Cannot point to anything specific myself but we also only file an annual 20F (unfortunately we are also deemed the equivalent of a large accelerated filer so I’m having fun right now.). Therefore no quarterly reporting is required and only the 20F need be SOX compliant.
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s302 certification is quarterly except for foreign filers (regardless of size)
s404 certification is, of course, annual for all filers
This has always been the case.
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Thanks Denis.