March 15, 2010SOX compliance management
The Sarbanes-Oxley (SOX) Act was signed into a US federal law on 30 July 2002. The Act is designed to oversee the financial reporting landscape for finance professionals. Its purpose is to review legislative audit requirements and to protect investors by improving the accuracy and reliability of corporate disclosures. The act covers issues such as establishing a public company accounting oversight board, auditor independence, corporate responsibility and enhanced financial disclosure.
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Highlights
According to an independent global survey sponsored by CA, nearly 45 percent of the companies surveyed reported an increase in the time and monetary resources required to ensure compliance with 13 regulations and industry standards found in countries around the world.
Achieving SOX compliance does not ensure business resilience or continuity. There are extra steps you should take to make sure that your business is protected.
Don\\\'t repeat the same SOX mistakes you made last year. Take this tip sheet to your next compliance meeting.
The Securities and Exchange Commission (SEC) makes good on long-promised new guidance for the bugaboo of Sarbanes-Oxley, Section 404.
Come June, the SEC expects to pass some new guidance on how public companies -- particularly small ones -- can better prepare themselves for a SOX sting. In the meantime, the Public Company Accounting Oversight Board plans to issue simpler standards for third-party audits of company coffers.
