SOX 404 - One Year Grace Period 1119

  • Based on my understanding, a company can choose to have a one year grace period for any material acquisition. This allows the company to have time to integrate new controls/processes into their existing control structure.
    [Are] their any circumstances that might remove the option of using the grace period?
    For example, if the acquiree already successfully passed year 1 of SOX.
    Any thoughts on this? Does anyone have any resources regarding acquisitions and SOX?
    Thanks in advance.

  • Well I think the concept for the grace period applies to those organizations that have yet file their first SOX complaince report. As you mentioned you already had a successful SOX year, probably you are not eligible for the grace

  • A similar question was asked here ->

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