Public Company Insights: SEC Proposes Redefining Accelerated Filers

Update: Final Rule Issued March 12, 2020
On March 12, 2020, the SEC adopted as final the 2019 proposed amendments designed to reduce reporting burdens on smaller public companies. The now-final rule relieves smaller reporting companies with revenues under $100 million from having to obtain separate attestation over the effectiveness of their internal controls over financial reporting (ICFR).   

See the SEC press release. 

Click below to read an explanation of the changes, or contact us if you have questions about your company’s filing status and requirements. 

June 26, 2019
Under an SEC proposal published in the Federal Register on May 29, 2019, smaller reporting companies who qualify as accelerated filers but have annual revenue below $100 million would be recategorized as non-accelerated filers. That status would extend filing deadlines and relieve these companies of the requirement to obtain an integrated audit under Sarbanes-Oxley section 404(b).

Click here for the full Insights.