Friday, December 7th, 2007
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From ITBusinessEdge.com
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We know Sarbanes-Oxley compliance costs a lot. Just ask any public company that is subject to the strict corporate reporting law. But does Sarbox affect CEO pay? New research from the University of Colorado at Boulder Leeds School of Business says it does. According to the study, if a CEO is featured in a major business magazine and his or her board is made up of a majority of outside directors, the CEO’s stock options and bonus jump an average of $600,000. On the other hand, if the board is comprised of mostly insiders and the CEO is featured in a business publication, his or her compensation only increases by about $270,000. The study spanned eight years and evaluated 3,500 large companies.
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Prep Work: Managed IT Services and Regulatory Compliance
Crime does pay, at least for managed service providers. Perhaps we should explain: The wave of corporate scandals such as those that engulfed Enron and Adelphia led to a more stringent regulatory structure. This makes it more likely that a company — unsure of precisely how to approach compliance — will call on an outside firm for help, says Kunjal Trivedi, the product manager for managed security services for Cisco. Indeed, the relationship can be perfect: The compliance-oriented managed IT service provider gets a client and the client stays out of trouble. 
Posted in Compliance Management | No Comments »
Thursday, December 6th, 2007
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READY. FIRE. AIM.
Companies consistently create cross-functional project teams to implement technology, reengineering, product launch and other complex initiatives in the workplace. Many of us, when asked to give an example of a high point in our careers, immediately cite a major successful team effort. Yet in our constantly accelerating marketplace, we find that more and more of our time is being spent getting teams back on track or having to step in and "do the heavy lifting" when the team does not deliver results.
What is the difference between the team that you remember as a career high point, and the one you are pulling out of the ditch today? Often, it is the time you spend up front — ensuring that you and the team can answer and agree on some simple questions: What is the team doing? Why? How will we accomplish the work? Who is involved?
Not doing this is the equivalent of firing before aiming.
ATTRIBUTES OF A HIGH PERFORMANCE TEAM
Most teams launch into the work quickly because team members feel they know what has to be done and are probably already behind schedule. However, as you speak to each member of the team (or worse yet, must conduct the post-mortem on what went wrong), you find that they each have a very different view of "what, why, how and who."
>>>>>> Click Here to Read the Entire Article <<<<<<
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Posted in Business Continuity Management, Compliance Management | No Comments »
Wednesday, December 5th, 2007
We peruse the Internet headlines so you don’t have to. Here are the recent headlines (and links) we felt newsworthy:
Changes to data protection laws ‘will give company bosses the shivers’ - MPs are considering changes to the law that would make chief executives directly responsible for safeguarding the public’s personal data and make the improper or careless treatment of personal information a criminal offence.
Tip-offs will produce new wave of data security scandals, watchdog tells MPs - Ministers are braced for a new wave of "Datagate" scandals after the Government’s information watchdog said he was investigating several possible breaches of data protection laws.
PCAOB Proposes Relying on Global Inspectors - The auditor watchdog may choose to let its international counterparts take over some of the sniffing.
FASB issues new M&A accounting standard - The rules, known as FAS 141 and FAS 160, are intended to simplify and converge with international rules on how companies account for mergers, acquisitions, noncontrolling interests and other business combinations in financial statements.
Cox Will Be Punished Over Proxy Access - He will hear from public pension funds that he’s anti-investor. Congressmen opposed to the action will sound off and perhaps call him to Capitol Hill to explain himself.
FASB Could Become Branch of IASB - FASB has not only been meeting to discuss accounting convergence with the IASB, but also has been having separate bilateral meetings with regulators in China, Japan and other countries, according to Herz, but he acknowledged that there are national pride issues to overcome, as well as political barriers.
Siemens restructures after corruption claims - The restructure follows a filing to the SEC, saying it had identified ‘material weakness’ in its internal controls over financial reporting which could affect its ability to report its results accurately and that its anti-corruption controls were insufficient to prevent managers from misusing funds.
Posted in Sarbanes Oxley | No Comments »
