With baited breath and clinched fists, small/exempt public companies (generally have market capitalizations less than $75 million) expect to hear today that a reprieve has come from the Securities and Exchange Commission.
S.E.C. Planning to Delay Accounting Rules for Small Companies – New York Times, http://www.nytimes.com/2007/12/12/business/12audit.html?_r=1&ref=business&oref=slogin
Some of these smaller companies have been heeding advice to continue preparing their SOX programs – taking advantage of Audit Standard 5 but, many have not, preferring perhaps for a holiday gift.
In having the additional time to learn from the larger companies as well as being able to leverage the top-down risk-based approach of A.S.5., you shouldn’t miss this chance for a great deal. This should be your wake up call to rally the troops.
If you didn’t start your holiday shopping for your approach, your team and technology to help your company build an effective and efficient program, now is the time to start. Your shopping list should include a federated GRC approach so the rest of your wardrobe works for any event - don’t think just having nice SOX will complete your shopping list.
Happy Holidays!
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