TheCorporateCounsel.net

Don’t forget that last week – May 6th – was the effective date for companies to pre-approve audit and non-audit services. So if a company has not yet adopted a pre-approval policy, any non-audit services must be approved by the audit committee (or the audit committee chair if that delegation has been granted) – although contracts for certain non-audit services in place before May 6th can continue for 12 months under specified conditions.

The odd thing about Section 201 of Sarbanes-Oxley – and the related rulemaking – is that its unclear what will be the consequences if a company uses non-audit services from its auditor without the appropriate pre-approval…

On Section16.net today, we are holding a webcast program entitled “Section 16 Filers: Users’ Perspective – Practice Tips and Lessons Learned from the Trenches.” Hear from panelists that have been test-driving the various filer products – as well as Alan Dye on the latest SEC developments – at http://www.section16.net/webcast0503/.