_and_quot;Comply or explain_and_quot;-what provision is this? 55
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Is there a provision in Sarbanes Oxely that uses the phrase ‘comply or explain’? If so, what does this mean?
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What do you excatly mean ?
I don’t understand your question…and the reason of asking…
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http://www.nysscpa.org/cpajournal/2004/204/essentials/p36.htm
An article in the CPA Journal led me down this path
'Some small registrants are arguing that they are unfairly burdened by the Sarbanes-Oxley Act. Some claim that complying with the act’s provisions would be unduly expensive for small companies. Others counter that flexibility for smaller companies already exists in the comply or explain provisions of the act. ’
So, I was wondering if anyone knew where the ‘comply or explain’ provisions were.
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I think you mean this article…
SEC Regulation S-X 2-02(f), 17 C.F.R. 212.2-02(f) (‘The
attestation report on management’s assessment of internal control over financial reporting shall be dated, signed manually, identify the period covered by the report and clearly state the opinion of the accountant as to whether management’s assessment of the effectiveness of the registrant’s internal control over financial reporting is fairly stated in all material respects, or must include an opinion to the effect that an overall
opinion cannot be expressed. If an overall opinion cannot be expressed, explain why.’).