sarbox news from FierceComplianceIT
The Sarbanes-Oxley Act of 2002 was enacted July 30, 2002, to protect investors by improving the accuracy and reliability of corporate disclosures made in conformity with securities laws. It instituted new or enhanced directives for all U.S. public companies and public accounting firms, particularly new standards for corporate accountability and penalties for acts of wrongdoing.
The act, which does not apply to privately held companies, was passed in response to corporate and accounting scandals like Enron and WorldCom. It is named after sponsors Sen. Paul Sarbanes (D-Md.) and URep. Michael G. Oxley (R-Ohio).
NewsAudit executives stand by Sarbox
We're seeing some major efforts in Congress right now to roll back previously enacted reform efforts, like credit and debit card reform measures, the Dodd-Frank Act, the Patriot Act and the Obama
Are banks liable for Sarbanes-Oxley sign-off lapses?
With the release of a trove of material by the Financial Crisis Inquiry Commission, Citigroup's CEO Vikram Pandit and then CFO Gary Critteneden have come under renewed criticism for their decision to
How to use Sarbox to get what you want
Even now, nearly 10 years after it was passed into law, Sarbanes-Oxley continues to dominate the compliance scene. Dodd-Frank, while no less of a watershed, may prove to be no match for Sarbox in
More GRC vendors target small companies
The GRC industry in many ways was built on large company deployments. The big firms faced the most regulatory risk and were the prime opportunities early on. But medium- and small-size companies face
SEC aims to reassure on Dodd-Frank whistleblower provisions
Should you be really scared about the new Dodd-Frank whistleblower provisions? Recall that employees who provide the SEC with original information that leads to a successful enforcement action will
Sarbox no problem; VCs take Chinese companies public in U.S.
The business climate in the U.S. has been punishing in recent years, worse than in many other countries. That reality is now being reflected in the venture-backed IPO market. According to the
Foreclosure mess raising risks for executives and directors
The foreclosure fiasco that has engulfed big banks and mortgage servicing companies has raised some troubling questions about compliance. Some are convinced the problems have hit "material weakness"
Case study: Going beyond financials with GRC
Like a lot of companies, the starting point for a robust GRC implementation at RadiSys was Sarbanes-Oxley (Sarbox news). The company initially contracted with Protiviti to support its Sarbox
Chinese companies embrace Sarbanes-Oxley
Companies in Asia that trade in the West view Sarbanes-Oxley differently. They tend to be much less belligerent about it and see compliance more for IR and PR benefits, a seal of approval in a sense.
Jeff Skilling wants out of jail on bail
Jeff Skilling--the reviled former CEO of Enron (Enron news) and poster child of the Sarbanes-Oxley era--continues to press his case for freedom. The convicted felon is currently serving a 24-year
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