Private to Public in 2008 2288



  • How long does a company have to document and pass testing when going from private to public?



  • You would have to sign-off on sox 404 in the year after you go public. So, more or less, 12 months.



  • Is there a requirement that all public companies must fulfill the Sox documentation/test requirement or is there a threshold? Our small company is only 3M going to 8M next year.
    Thanks.



  • As a small company, had you gone public earlier than this year, you would not have had to comply with the internal control sections of SOX yet. However, that is no longer the case as all public companies now have to comply. Your auditor, on the other hand, still has a bye on having to specifically test your controls and provide an opinion on them.


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