As you may already know, on June 15, 2010 Section 404(b) of the Sarbanes -Oxley Act of 2002 becomes effective for all public companies traded on an exchange that have a market capitalization of under $75 million. What does that mean for you or your clients?

For registrants with a year ending on or after June 15, 2010, their independent registered accountants must issue an opinion on Management's Assessment of Internal Controls over Financial Reporting disclosed in the registrant's Annual Report on Form 10-K. The opinion will state whether or not the firm agrees with Management's Assessment. Numerous registrants have performed the basics of documenting their system and identifying key controls. However, many small companies have not done extensive testing that will be acceptable to their auditors.

CFO Consulting Partners LLC can assist you or your client(s) in preparing for the first attestation of internal controls over financial reporting. Our experts can perform the following to get you on the right path:

• Walkthroughs of existing documentation
• Review of key control identification
• Test script review and testing
• Remediation where necessary
• Coordination with independent registered accountants