ICBA applauds SEC for extension under SOX 404(b)

The Independent Community Bankers of America has applauded the Securities and Exchange Commission for extending the date by which non-accelerated filers must begin to comply with the Sarbanes Oxley Section 404 (b) requirement to provide an auditor's attestation report on internal controls.

"We commend the SEC for extending the deadline for non-accelerated filers" said Karen Thomas, ICBA executive vice president for government relations. "The extension will not only mean lower auditing fees next year for many community banks and other smaller companies, but will allow them an additional year to consider, and adapt to, the proposed changes in …