BW Online reports the non-surprising fact that a lot of companies are not ready to comply with the requirements of Sec. 404.

Even with the deadline delayed twice, many companies likely will be forced to admit to deficiencies in their internal controls -- mainly because they don't have time to fix all the problems that are cropping up before the end of their fiscal years. Auditors estimate that they'll report shortcomings at 10% to 20% of public companies.