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Biotech / Medical : Biotechnology Value Fund, L.P. -- Ignore unavailable to you. Want to Upgrade?

To: Biotech Jim who wrote (4598)	2/27/2006 9:06:06 AM
From: quidditch	Respond to of 4974

"...before it swings back even part way." This is still thrashing and flopping in its near death dance on the pier. George is right, as are you--it has been not only a drain of resources but a source of loathing at the spend figuring out how to comply with SOX 404. But the jury is still out as to where exactly smaller companies will have to plug in full compliance. There have been extensive position papers from the regulated, the SEC, PCAOB, and various other accounting trade groups. Implementation for smaller cap companies has been postponed three times now, I think, and there are proposals afoot that may materially alter the 404 requirements. Yet, the public company cannot directly talk to its auditor about how to adjust (or set up, as the case may be) its internal controls, which the auditor's attestation report will examine.