Latest SOX News
Friday, April 27th, 2007Here are the recent headlines (and links) we felt newsworthy:
Senate rejects Sarbanes-Oxley change - Republicans attempted to make compliance optional for companies with a market value of less than $700 million.
US official sees Sarbanes-Oxley standoff resolved - By a vote of 62-35, the Senate set aside an amendment to make compliance with Sarbanes-Oxley’s Section 404 optional for companies with total market value of less than $700 million.
SECOND-YEAR IMPLEMENTATION OF AUDITING STANDARD NO. 2 - REPORT
European Cos. Exit U.S. Exchanges - European companies are already signaling their intent to take advantage of a pending change in rules that will let them easily cancel U.S. stock listings and escape the regulatory constraints of the Securities and Exchange Commission and the Sarbanes-Oxley Act.
Apple ex-CFO links Jobs to backdated options - Apple Inc.’s former finance chief said on Tuesday he relied on Chief Executive Steve Jobs in the handling of backdated stock options, putting the spotlight on the company’s co-founder in the scandal.
Scrushy Settles SEC Suit for $81M - Fired HealthSouth Corp. Chief Executive Richard Scrushy agreed to pay $81 million to settle a lawsuit filed by the Securities and Exchange Commission blaming him for a $2.7 billion accounting fraud at heath care services company.
In Rare Move, Auditor Sues Client - "Fannie Mae repeatedly, systematically and intentionally misled KPMG," the audit firm alleges in a countersuit.
Fraudster Kicks Enron While It’s Down - A former Enron executive will serve 63 months in prison without parole for submitting false invoices for consulting work - several years after the company filed for bankruptcy.
Compliance Officer Charged as Insider - More than 50 illegal trades in Amkor Technology stock and options were allegedly executed by the person responsible for administering Amkor’s blackout periods, according to the SEC.
Posted in Sarbanes Oxley | No Comments »
