Smaller Company SOX Delays May Be Coming to An End – The new chairman of the SEC plans to focus more attention and influence on disclosure, greater transparency and increased regulation for American businesses of all sizes. Before her appointment as SEC chair was made, Mary Schapiro commented that the delays of Sarbanes Oxley Act’s Section 404 requirements for smaller companies may be coming to an end.  “Right now, we have a system where some issuers are complying with 404 and others are still exempt from it,” she said. “It’s time that we bring ..." More >

FASB Eases Guidance on Mark to Market Rules – Until recently, U.S. accounting policy and politics have remained distant relatives, an environment which the FASB could draft policy in a vacuum rather independently from outside pressure.  Unfortunately, FASB guidance on mark-to-market accounting has caused banking companies and politicians to increasingly apply pressure due to the large losses companies are incurring to comply with the new guidance. In particular, a recent House subcommittee hearing criticized mark-to-market accounting and FASB for the impact recent accounting changes have had on these companies. Committee Chairman Barney Frank commented, “You are the FASB, you cannot be..." More >

Next Issue – Implementation of XBRL (extensible business reporting language) for smaller public companies.

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