On June 26, 2008, the SEC announced it extended the date for non-accelerated1 filers to include in Annual Reports on Form 10-K and Form 10-KSB the auditor attestation required under Section 404(b) of the Sarbanes-Oxley Act of 2002. Non-accelerated filers will now be required to include the attestation of auditors in Annual Reports on Forms 10-K and 10-KSB for fiscal years ending after December 15, 2009.
It is important to note that the management’s report on internal control over financial reporting will still required to be filed for Annual Reports for fiscal years ending prior to December 15, 20092. Additionally, the SEC confirmed that this management report would not deemed to be “filed” with the SEC until after the extension period, and therefore not subjecting the non-accelerated filer to liability under Section 18 of the Securities Exchange Act.
The full text of the SEC release can be found at http://sec.gov/rules/final/2008/33-8934.pdf. The new requirements can be found in Item 308T of Regulations SK and SB, as well as in Item 9A(T) of Form 10-K and Item 8A(T) of 10-KSB.