As a result of the Dodd-Frank federal financial reform legislation passed by Congress in 2010, only larger public companies (accelerated filers) are now required to obtain an audit report from their auditors on internal control over financial reporting.

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This statement is true. Dodd-Frank federal financial reform legislation passed by Congress in 2010 amended the Sarbanes-Oxley Act of 2002 to exempt non-accelerated filers (smaller public companies) from the requirement to obtain an audit report on internal control over financial reporting. Therefore, only larger public companies (accelerated filers) are required to obtain such a report under the Dodd-Frank Act.

As a Result of the Dodd-Frank Federal Financial Reform Legislation