Deadline extended 531

  • Now that the SEC has Extended the Section 404 Compliance Date for Non-Accelerated Filers and Foreign Filers, what will the certifications look like for the interim year?
    In effect, a one-year extension is granted with respect to certain language relating to internal control over financial reporting that must be included in the first executive certification filed after the first annual report required to contain management’s internal control report and in all periodic reports filed thereafter.
    Quote from SEC rule: In addition, we are applying the extended compliance period for these filers to the amended portion of the introductory language in paragraph 4 of the certification required by Exchange Act Rules 13a-14(a) and 15d-14(a) that refers to the certifying officers’ responsibility for establishing and maintaining internal control over financial reporting for the company, as well as paragraph 4(b).
    This is a grey area and I don’t know what kind of statement a CEO/CFO will have to make as to their internal controls.
    any thoughts?

  • For those with extended deadlines the certifications in the interim year will look like this:
    i.e. there won’t be one 😄

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