Financial Reporting


The SEC again extended the dates by which nonaccelerated filers and foreign private issuers must comply with amendments—adopted in keeping with the internal control and financial reporting provisions of section 404 of the Sarbanes-Oxley Act—to its rules under the Securities Act of 1934 ( www.sec.gov/rules/final/33-8545.htm ). Such entities must begin to satisfy these requirements for their first fiscal year ending on or after July 15, 2006.

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In focus: Payroll

Providing payroll services that comply with ever-changing regulations and meet evolving employee and employer demands is no easy task. Paychex's Tom Hammond discusses common payroll considerations for CPA firms.