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Category: Corporate Law
inside SarbanesOxley - December 16, 2008
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...
inside SarbanesOxley - November 30, 2008
Dreading your pending SOX initiative? Or the thoughts of IPO? Or how you might refine your implementation?
Hopefully, "Sarbanes-Oxley Section 404A Guide for Small Business" from the SEC takes some of the sting out of it. This incorporates much of the thinking and...
inside SarbanesOxley - November 30, 2008
The Sarbanes-Oxley Act of 2002 has been viewed as a watershed event in dealing with corporate fraud. In addition to its extensive provisions dealing with internal controls and corporate accounting procedures, the law adopted new crimes and pushed the United States...
inside SarbanesOxley - November 30, 2008
Securities and Exchange Commission chairman Christopher Cox asked Congress to approve his nearly $1 billion budget request for fiscal year 2009.
If lawmakers agree the SEC needs its first budget increase in three years, the commission will have realized a roughly 4 percent...
inside SarbanesOxley - November 30, 2008
Recently, the US Government implemented a new rule and proposed yet more rules regarding ethics and corporate compliance programs for government contractors. This marks a continuing shift towards adopting a more aggressive approach in addressing government contractor fraud,...
inside SarbanesOxley - November 30, 2008
Another resource available for those seeking to better understand and manage their SOD risks and issues.
Corporate and IT executives continue to feel the pressures of assuring
federal regulators, auditors, boards of directors, and stockholders that
corporate financial...
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