Time and time again, the deadline for smaller companies to comply with Sarbanes-Oxley has been pushed back. Now there's a new study that might leave you asking one question: what's the point?

The Lord&Benoit study has found that most small companies failed to take advantage of the SOX deadline extensions. According to the study one in three (34%) non-accelerated filer companies gave little or no consideration to the Section 404 (a) delays and therefore completed assessments at the last minute or not all. Indeed, 12% either filed a faulty report or disclosed inadequate segregation of duties without any evidence of
complying and 7% didn't even bother filing.

The findings suggest there are many out there not taking Sarbanes-Oxley that seriously and giving it the ostrich treatment.