We all know about the Sarbanes-Oxley Section 404(a), or, managements requirement to attest to the effectiveness of their internal controls via their 10Q/K and quarterly via the Section 302/906 attestations (required for public companies via the Sarbanes-Oxley Act of 2002). There is also Section 404(b), or, the requirement for external auditors to review the 404(a) work and attest to whether or not they agree with management's conclusions.  Now, due to the Wall Street Reform Act, let me introduce the new Section 404(c) available from this link:

http://www.sec.gov/rules/final/2010/33-9142.pdf

"Section 404(c) provides that Section 404(b) of the Sarbanes-Oxley Act shall not apply with respect to any audit report prepared for an issuer that is neither an accelerated filer nor a large accelerated filer as defined in Rule 12b-2 under the Securities Exchange Act of 1934 (the “Exchange Act”)."