Recent SOX Headlines
Wednesday, August 22nd, 2007SarbOx Controversial, But Seen Doing The Job - Despite criticism from many U.S. executives who call the requirements too costly and cumbersome, recent studies suggest the law has done more good than harm. Now other countries are following the U.S. with similar measures to shore up corporate accounting.
The SarBOX: Accounting czar is a $600,000 man - Turns out Mark Olson makes about three times as much as his colleague Christopher Cox, chairman of the Securities and Exchange Commission.
Canadian firms pulling up their SOX, says study - According to a recent study by IDC Canada, the Canadian version of the American Sarbanes-Oxley legislation has figured more prominently among Canadian firms this year.
Dell Founder In Spotlight After Accounting Audit - Dell said Thursday it would restate four years of financial results, reducing net income for the period by $50 million to $150 million.
Chilling Thoughts - A new study compares companies here and abroad, and concludes that Sarbanes-Oxley appears to have put a damper on risk-taking by U.S. firms.
SEC Announces $55 Million Fair Fund Distribution To Investors Injured In Banc One Investment Advisors Market Timing Fraud - The Securities and Exchange Commission today announced the distribution of approximately $55.6 million in Fair Funds to more than 200,000 investors who were harmed by fraudulent market timing in certain Banc One mutual funds (One Group Funds).
SOX Spending is down, but CIOs still have work to do - A study from Foley & Lardner LLP shows that while the total cost of SOX compliance dipped in 2006, spending on so-called out-of-pocket costs rose by double-digit percentages.
A new playbook for corporate family feuds - In the world post-Sarbanes Oxley, regulators can ask a company to waive privilege as evidence of co-operation, and auditors are becoming less shy about demanding access to confidential documents before certifying financial statements.
Taiwan premier urges measures to beef up risk management among financial firms - Premier Chang Chun-hsiung urged the Financial Supervisory Commission (FSC) and other related government agencies to take necessary measures to strengthen risk management practices among Taiwan’s financial firms against the backdrop of US subprime mortgage sector troubles.
Breeden Tries to Square ‘Mr. Fix-It’ Activist Roles - Richard Breeden’s reputation as the dean of corporate governance is on the line.
Consulting Pays Off for Accountants Again - Deloitte & Touche resisted splitting with its consulting arm, and now the multibillion-dollar segment has inspired other audit firms to rebuild theirs
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