Top News
PCAOB issues draft guidelines for risk-sensitive SOX audits in smaller corporations
Guidance covers audit of internal controls, such as informal documentation - http://www.itcinstitute.com/info.aspx?id=44094
Rate of corporate fraud holding steady, says PwC global survey
Most US respondents feel that Sarbanes-Oxley has stemmed the tide of fraud - http://www.itcinstitute.com/info.aspx?id=44095
MiFID compliance triggers storage headaches for European financial firms
Companies must retain enough data for five years to reconstruct the stages of each transaction - http://www.itcinstitute.com/info.aspx?id=44096
Houston HR-outsourcing firm suffers data breach involving 159,000 names
Stolen unencrypted laptop exposes personal information of 159,000 employees - http://www.itcinstitute.com/info.aspx?id=44097
Teen launches police SWAT assault by hacking into EMR system
False 911 call sends a SWAT team, helicopter, and police dogs to descend on a random house, endangering a couple and two toddlers - http://www.itcinstitute.com/info.aspx?id=44098
Regulation Watch
PCAOB drops regular inspection requirement for accounting firms that rarely issue audit reports
Less than half of accounting firms registered with the board are regularly involved in audits - http://www.itcinstitute.com/info.aspx?id=44099
NIST publishes two new IT security documents in 800-Series
Guidance covers IT security assessment competency and personal identity verification - http://www.itcinstitute.com/info.aspx?id=44100
Information Security Forum releases update to Standard of Good Practice
Control assessment tool is available as a free download - http://www.itcinstitute.com/info.aspx?id=44101
Nevada passes law requiring encrypted transmission of personal information
Businesses have one year to implement encryption - http://www.itcinstitute.com/info.aspx?id=44102
Prevalence of corporate litigation declines, survey shows
Many credit Sarbanes-Oxley for the situation, others point to the economy - http://www.itcinstitute.com/info.aspx?id=44105
SOX offers almost no whistleblower protection, study finds
Over three years and 491 retaliation complaints only 13 resolutions favored the complainant - http://www.itcinstitute.com/info.aspx?id=44106