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SEC to propose accelerated filer changes to ease accounting burden for smaller companies

( May 9, 2019, 15:36 GMT | Official Statement) -- MLex Summary: The US Securities and Exchange Commission has voted to propose amendments to accelerated filer definitions that would exempt public companies with less than $100 million in revenue from obtaining attestation of their internal controls over financial reporting from an outside auditor. The companies would still be required to have independent audit committees and top executives would have to certify financial reports, the SEC said. "Many of these smaller companies – including biotech and health care companies – will be able to redirect the savings into growing their companies by investing in research and human capital,” SEC Chairman Jay Clayton said.Statement follows below. ...

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