Internal Control Over Financial Reporting (SOX 404)

Public companies must maintain adequate internal control over financial reporting and include management's assessment of those controls in annual reports. Management must evaluate and disclose the effectiveness of internal controls and identify any material weaknesses.

Accelerated filers must also obtain an independent auditor's attestation report on management's assessment. Companies must establish and maintain disclosure controls and procedures designed to ensure that information required in SEC filings is recorded and reported timely.