Tag Archives | SOX

Sarbanes-Oxley, Costly Cure for What Ails Market

from AEI U.S. financial-market regulations have multiplied like rabbits in recent years. While companies have been moaning about the costs imposed by the Sarbanes-Oxley corporate-governance law and its brethren, academics have toiled away trying to identify whether the regulations are all that bad. Last week, a report by a committee of academics and business executives […]

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Accounting Oversight: Backing Down?

from Forbes   It was supposed to be a brand-new world of oversight of crooked auditors. The Public Company Accounting Oversight Board, a new watchdog group, was put in place a few years ago to toughen oversight of auditors, who had been accused of abetting white-collar crooks and of being partly to blame for the […]

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Waiting On Sarb-Ox Reform

from Forbes A curious thing happened in the runup to the midterm elections. The Democrats suddenly got religion on the need to lighten the regulatory load on businesses. Specifically, the “Innovation Agenda” that the new Democratic Speaker of the House, California’s Nancy Pelosi, trumpeted during the campaign vowed to reform Sarbanes-Oxley, the package of corporate […]

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One World…Many, Many Government Policies

from The Daily Standard (via YaleGlobal Online) SO WE LIVE in a globalized world, which impacts on jobs, wages, consumers, and producers. All of which already have received too much attention to require further comment by me. But what we have not fully considered is the extent to which globalized markets produce pressures for globalization […]

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Society of Corporate Compliance and Ethics Establishes Certification Program

from SOX Compliance Journal Compliance and ethics professionals now have an opportunity to demonstrate their knowledge and expertise in the practice of corporate compliance. The Society of Corporate Compliance and Ethics (SCCE) announced recently the details of its certification program which will provide Certified Compliance & Ethics Professional certification to individuals associated with the compliance […]

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Options Scandal Seen Vindicating Reforms

from Reuters Perhaps the Sarbanes-Oxley corporate governance reforms were not too harsh after all. Critics contend the law, passed after the Enron Corp. and WorldCom Inc. scandals, was a bad panic-driven law that introduced unnecessary rules and costs for listed companies. But a quick flip through the latest bombshell report on a corporate scandal — […]

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Sarb-Ox Compliance: Five Lessons to Reduce Cost and Effort

from Computer World The Sarbanes-Oxley Act requires every publicly traded company, large or small, to establish internal controls and procedures for reliable financial reporting. Although the Securities and Exchange Commission has extended the deadline for small businesses and foreign entities, these organizations need to begin planning. But as they do so, they can apply valuable […]

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Cost of Meeting New Regulations Inspires Spirent to Quit NYSE

from Times Online (London) SPIRENT, the telecoms testing group, yesterday blamed the cost of meeting tough new corporate governance rules in America for its plan to drop its New York listing. The company, which has its primary listing in London, said that the Sarbanes-Oxley rules, introduced after the Enron collapse to regulate US-listed businesses better, […]

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Sarbanes-Oxley – SEC Says Nothing Wrong With Section 404 Except Implementation

from Chase Cooper On Tuesday, the two chief Sarbanes-Oxley Act (SOX) supervisors, gave their testimonies to their supervisor, the US House of Representatives’ Committee on Financial Services. Christopher Cox of the Securities and Exchange Commission (SEC) confirmed his view that SOX had succeeded in its aims and that the issues of Section 404 were not […]

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Another Increase in Compliance Costs

from CFO.com The Sarbanes-Oxley Act is often blamed for a dearth of accountants, and their new found leverage to demand more money from their employers. The Act has also given rise a boost to another corporate denizen: compliance and ethics officers, who increasingly are being invited into the executive suite, and greeted with bigger paychecks. […]

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Stricter US Accounting Rules Pinch Companies

from The Korea Times South Korean firms listed on U.S. exchanges are facing growing costs due to stricter accounting rules and some of them consider leaving the markets, according to Financial Supervisory Service (FSS) yesterday. Not only Korean but also many other non-U.S. firms saw costs to maintain their listing on the U.S. markets rise […]

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