The HNTB Companies Celebrate One-Year of Voluntary S-OX 404 Financial Compliance

Business Wire, May 05, 2009

Privately Held Employee-Owned Firm Sees Process as a Best Business Practice

KANSAS CITY, Mo. -- This week the HNTB Companies celebrated an unusual milestone for a privately held company: One year of voluntary compliance with Section 404 of the Sarbanes-Oxley Act of 2002.

While not required by law to act in accordance with the financial reporting rules established by S-OX, the firm views sustained, long-term compliance as a key part of its “best business” philosophy.

“This move allows HNTB to visibly validate our ‘best business’ practice approach by voluntarily complying with these financial reporting guidelines,” said Harvey Hammond, chairman of the HNTB Companies. “We are pleased to demonstrate to our clients, business partners and our own employees that we are committed to following a system that places increased reliance and credibility on our accounting system and business processes.”

In its first full year of compliance, HNTB has seen a number of tangible benefits, such as:

• Streamlining client accounting reviews,
• Speeding compliance with the latest regulations to effectively compete in the federal market,
• Enhancing contract costing and accounts receivable controls,
• Improving training and understanding of procedures among new hires, and
• Assuring employee owners the valuation of HNTB stock is based on soundfinancial reporting.

HNTB Corporation is an employee-owned infrastructure firm serving federal, state, municipal, military and private clients. With nearly a century of service, HNTB has the insight to understand the life cycle of infrastructure and the perspective to solve the most complex technical, financial and operational challenges. Professionals nationwide provide award-winning planning, design, program management and construction management services. For more information, visit www.hntb.com.