The amendments exclude from the
accelerated and large accelerated filer definitions an issuer that
is eligible to be a smaller reporting company and that had annual
revenues of less than $100 million in the most recent fiscal year
for which audited financial statements are available. In addition,
the amendments increase the transition thresholds for accelerated
and large accelerated filers becoming non-accelerated filers from
$50 million to $60 million, and for exiting large accelerated filer
status from $500 million to $560 million. Further, the amendments
add a revenue test to the transition thresholds for exiting from
both accelerated and large accelerated filer status. Finally, the
amendments add a check box to the cover page of Form 10-K to
indicate whether an internal control over financial reporting
auditor attestation is included in the filing. An issuer that is
excluded from the definitions of accelerated filer and large
accelerated filer is not be subject to accelerated or large
accelerated filing deadlines for its annual and quarterly reports
or the internal control over financial reporting auditor
attestation requirement. The issuer also does not have to provide
the disclosure required by Item 1B of Form 10-K and Item 4A of Form
20-F about unresolved staff comments on its periodic and/or current
reports or the disclosure required by Item 101(e)(4) of Regulation
S-K about whether it makes filings available on or through its
Internet website. For Form 10-K, the Commission estimates that the
amendments would result in a reduction of approximately 140,402
internal burden hours and a reduction of approximately $50,355,000
in outside professional costs.
$119,447,840
No
Yes
No
No
No
No
No
John Fieldsend 202
551-3343
No
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.