We peruse the Internet headlines so you don’t have to. Here are the recent SOX and GRC headlines (and links) we felt are newsworthy:

Economic Downturn Calls for Increased Vigilance - Although there’s intense pressure to make across-the-board budgetary cuts during an economic downturn, a good case can be made for surgical precision. Using IT to achieve strategic goals, focusing on areas that improve the bottom line, and investing in capital projects that will advantageously position a company during economic recovery are all worthy efforts. And, because motivation for fraud increases in bad times, don’t skimp on risk management initiatives.

Getting Rid of Silos Supports Business Goals - High-performing companies use IT to drive growth and build competitive advantage. One of the best ways to do this is through Business Intelligence (BI) initiatives that break down the silos between business units and leverage data to support business objectives.

South Korea Positioned for GRC Initiatives - South Korea has an unenviable reputation for poor governance and corporate corruption, but signs point to a significant turnaround. Although big corporations overshadow the country’s economy, recent scandals are empowering shareholders and good governance advocates to demand reform.

Accelerated to Non-Accelerated: Repercussions - When a company moves from accelerated filing status to non-accelerated filing status, is it required to comply with Section 404(b)? A 2006 CAQ SEC document finds that the auditor’s attestation is not required for a fiscal year ending prior to December 15, 2009.

SEC Chief Accountant Tenders Resignation - Come January 2009, Conrad Hewitt will step down from his position as the SEC’s Chief Accountant. Hewitt played an integral role in guiding SOX Section 404 compliance and improving auditor requirements, as well as championing international financial reporting standards.