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Category: Corporate Law
inside SarbanesOxley - April 28, 2010
I wanted to share what I found to be surprising statistics from their recently published 2010 Report on the Current State of Enterprise Risk Oversight: 2nd Edition" published in February.
48.7% of respondents describe the sophistication of their risk oversight processes...
inside SarbanesOxley - April 28, 2010
(12/16/2009)
The Securities and Exchange Commission today approved rules to enhance the information provided to shareholders so they are better able to evaluate the leadership of public companies.
In particular, the new rules require disclosures in proxy and information...
inside SarbanesOxley - April 20, 2010
The health of your business requires consideration that a continual over assessment of risks and controls encumbers your resources and leads to unnecessary testing. External auditors need a business case to justify reducing SOX compliance requirements. As the business owner...
inside SarbanesOxley - April 13, 2010
I have had too many conversations about "just one more layer for good measure" when it comes to controls in the enterprise.
Never enough time" and "too many competing demands" seems to be the recurring theme, as folks complain about staffing being reduced 10% since 2007,...
inside SarbanesOxley - April 12, 2010
On December 30, 2009, the Securities and Exchange Commission (SEC) finalized the
amendments to the custody requirements of Rule 206(4)-2 (the Rule), under the
Investment Advisers Act of 1940. What do you need to do to prepare and comply
now that the Rule has gone into...
inside SarbanesOxley - June 22, 2009
The tiny auditor of Bernard Madoff's Wall Street firm, at the center of an alleged $50-billion Ponzi scheme, is being investigated by the district attorney in a New York City suburb.
Friehling & Horowitz had signed off on the annual financial statement for Bernard L....
inside SarbanesOxley - November 30, 2008
The Sarbanes-Oxley Act has many detractors. They claim that the Act is an over-burdensome piece of regulation, one that has imposed costly and unneeded obligations on issuers. It has driven U.S. companies to exit the public markets and go private, and it has deterred...
inside SarbanesOxley - November 30, 2008
Investor advocates are wary of a regulatory proposal that could decrease the number of times companies restate their financial results.
Barbara Roper, director of investor protection for the Consumer Federation of America, contends that the suggested changes to the...
inside SarbanesOxley - November 30, 2008
The Public Company Accounting Oversight Board today announced the 2008 series of its Forums on Auditing in the Small Business Environment. These forums are designed to help share important information with registered public accounting firms and public companies operating in...
inside SarbanesOxley - November 30, 2008
Since the advent of Sarbanes-Oxley, non-financial corporations have faced increasingly strong regulatory and compliance requirements aimed broadly at increasing transparency in their business practices. Risk management has been addressed at times, but usually as an...
inside SarbanesOxley - November 30, 2008
Maybe so much of the Sarbanes Oxley legistlation has been to simply bring US filers up to par with governance and risk management practices that have been maturing around the globe.
Standard and Poor's, one of the leading credit rating agencies for capital markets, has...
inside SarbanesOxley - November 30, 2008
In 2005, federal authorities concluded that a Monsanto consultant had visited the home of an Indonesian official and, with the approval of a senior company executive, handed over an envelope stuffed with hundred-dollar bills. The money was meant as a bribe to win looser...
inside SarbanesOxley - November 30, 2008
The growing number of companies restating their financial results has been cited as a reason to ease U.S. accounting standards by the Securities and Exchange Commission and Treasury Department. But the restatement problem may not be the big bad wolf it was originally...
inside SarbanesOxley - November 30, 2008
The frequency of financial restatements by U.S. public companies began to increase before the Sarbanes-Oxley corporate reform law was passed in 2002, according to a study commissioned by the U.S. Treasury Department and released on Wednesday.
But restatements associated...
inside SarbanesOxley - November 30, 2008
Sometimes after announcing they need to restate their financials, companies go into shutdown mode. For up to two years, investors won't see a regulatory filing or hear a significant financial peep while a company tidies up its past.
The Securities and Exchange Commission's...
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