The U.S. Securities and Exchange Commission announced it has begun a cost-benefit study of an upcoming attestation requirement for small businesses under Section 404(b) of Sarbanes-Oxley. Section 404(b) requires an auditor's attestation on management's assessment. The agency also proposed a one-year extension of the Section 404(b) requirement for smaller companies. This delay doesn't mean companies need to be lax in compliance to Sarbox. Read Lora Bentley's article on making this extension work to your favor.
Smaller companies may be able to breathe a little easier now that they don't have to worry about external auditors checking out their internal controls until 2009. However, the delay doesn't mean they should sit back and do nothing.
Small Business Times writer William Gienke says small public companies should take advantage of the extra year the Securities and Exchange Commission has given them to fine-tune their internal controls and make sure their assessments are accurate before subjecting them to third-party scrutiny.
Moreover, he says that even private companies and non-profit organizations will benefit from the lessons small businesses learn as they come into compliance with Sarbanes-Oxley. What has been regulated for public companies is simply good business for others.
Pentaho Swipes BI Customer from SAP Business Objects
With its purchase of the New Zealand-based Weka open source data mining project, Pentaho demonstrates its commitment to providing a comprehensive open source business intelligence suite, according to a company spokesperson. A Ventana Research analyst confirms that the move is a good thing, noting that data mining is one of the top BI capabilities that users look for. Weka team members aren't disappointed either, according to this piece, which says the project has grown such that it needs commercial-grade support and resources to continue.
DiBona on Google's Open Source Philosophy
Chris DiBona, the open source program manager for Google, shares his philosophy. Read Lora's summary on how Google is implementing the Summer of Code.
Regulations Drive Need for Storage Specialists, Study Says
With Sarbanes-Oxley regulations and other data retention laws in place, the need for data storage experts is on the rise. Read Lora's article on various news that validate the need.
