Wednesday, December 27th, 2006
and Many are Still Pushing for Complete Repeal…
The Securities and Exchange Commission and the DoJ did what they could last week to ease the Sarbox burden on U.S. public companies — and some foreign firms as well. Early last week, the Department of Justice issued new, more relaxed guidance on prosecuting criminal corporate fraud cases. The SEC has voted last to make implementation of Sarbanes-Oxley section 404 more risk-based and to reduce the complexity of audits. The independent regulator also extended the Sarbox compliance deadline for smaller companies. But many critics are still clamoring for Sarbox to be eliminated.
Posted in Regulatory Reform, Sarbanes Oxley | No Comments »
Thursday, December 21st, 2006
… for data protection compliance
Security managers, working closely with other members of IT management teams, have become pretty good at protecting information assets from external threats. Even in this era of deperimeterization, IT teams are beginning to effectively tighten security around systems in addition to the enterprise overall. But what about the movement of data initiated by employees?
Posted in General | No Comments »
Wednesday, December 20th, 2006
SEC extends Sarbanes-Oxley deadlines for smaller firms - Most public companies will not have to comply with financial reporting requirements set by Sarbanes-Oxley for at least one more year, because of a deadline extension granted Friday by the Securities and Exchange Commission.
Agency proposes new auditing standard - The agency that regulates the U.S. accounting industry on Tuesday proposed a new standard for public company auditors that would give them more leeway to focus on areas they consider most critical, among other changes.
Plan Unveiled to Scrap A Sarbanes-Oxley Rule - Accounting industry overseers yesterday scrapped an audit rule targeted by businesses as expensive and burdensome, proposing looser guidelines that would direct accountants to focus on the integrity of corporate managers and the most risky aspects of a company’s financial reports.
SEC Says Materiality Should Drive 404 - The SEC proposes guidance to help cure corporate executives of what commissioner Paul Atkins calls an “obsessive-compulsive mentality” in checking for controls lapses.
PCAOB Unveils Latest Big Four Audit Deficiencies - Nearly two weeks after the Public Company Accounting Oversight Board’s audit inspection team cited Deloitte & Touche for audit deficiencies, the oversight body’s report on PricewaterhouseCoopers criticized a number of 2005 audits performed by that Big Four firm.
Canadian firms fall short in accounting study - Canadian firms reporting under the tough American Sarbanes-Oxley Act have more internal control problems than American companies, according to a new study.
Posted in Regulatory Reform, Sarbanes Oxley | No Comments »
