CAQ Reaction to PCAOB Court Decision

Posted by Bill Bockwoldton Mon, Jun 28, 2010 @ 04:00 PM

I read this press release this morning and feel that our readers will find it interesting. It details the Center for Audit Quality's reaction to the Supreme Court's PCAOB Decision:

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Tags: Sarbanes-Oxley Articles & Information, Announcements, 404, 404 audit, audit costs, Non-accelerated filer 404(b) information, SOX Basic®, audit scope, external auditing, insurance audit, Sarbanes-Oxley for Non-Profits

Compliance Alert: Status of Sarbanes-Oxley Section 404(b)

Posted by Teresa Bockwoldton Sun, Jun 27, 2010 @ 04:00 PM

For those of you who are curious,  the below article from TNBankers.org gives descriptions of some of the key provisions of the Reform Bill that is currently being worked on:

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Tags: Sarbanes-Oxley Articles & Information, Compliance tools, 404, 404 audit, audit costs, Non-accelerated filer 404(b) information, SOX Basic®, SOX Compliance Made Simple, Wall Street Reform, external auditing, Sarbanes-Oxley for Non-Profits

Compliance Alert: CPA Society Supports SOX for Small Companies

Posted by Teresa Bockwoldton Sun, Jun 27, 2010 @ 03:00 PM

The Ohio Society of CPAs  commented on the "Last-minute attempt made to remove small public company exemption from financial reform"  in 404(b) in the article below on 25 June 2010. They discussed the fact that investors in small companies deserve safeguards against possible fraud. After all, if there are no safeguards to prevent fraud for small public companies, that will ultimately lead to a lack of investment in these companies as investors will not feel secure in doing so. Click  here to read the full statement.

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Tags: Sarbanes-Oxley Articles & Information, Compliance tools, Announcements, 404, 404 audit, audit costs, Non-accelerated filer 404(b) information, SOX Basic®, SOX Compliance Made Simple, Wall Street Reform, Sarbanes-Oxley, external auditing, Sarbanes-Oxley for Non-Profits

Sarbanes-Oxley Clawback Developments of Interest

Posted by Bill Bockwoldton Sun, Jun 27, 2010 @ 02:00 PM

While reading The Harvard Law School Forum I came across a post that discusses the "Sarbanes-Oxley 'Clawback' Developments" by John F. Savarese. It is very interesting, and if you would like to read it, click  here.

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Tags: Sarbanes-Oxley Articles & Information, Announcements, 404, deadline, 404 audit, audit costs, Non-accelerated filer 404(b) information, SOX Basic®, SOX Compliance Made Simple, risk management, Sarbanes-Oxley, external auditing, insurance audit

FEI Survey Reports SOX Adds Value to Businesses

Posted by Teresa Bockwoldton Sun, Jun 27, 2010 @ 01:00 PM

PRNewswire has a very interesting article on the most recent FEI Survey titled "FEI Survey: Companies Report Signs of Stabilization with 2009 Auditing Process." The survey found that most companies complying with SOX had smoother audit processes and felt they had better control and understanding of their company as well as their responsibility. Ultimately, they found SOX to be valuable to their business process. If you would like to read the full article about the survey and its findings, please click on the link below:

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Tags: Sarbanes-Oxley Articles & Information, Compliance tools, Announcements, deadline, 404 audit, audit costs, Non-accelerated filer 404(b) information, SOX Compliance Made Simple, compliance, risk management, Sarbanes-Oxley, external auditing, Sarbanes-Oxley for Non-Profits

Decision in Free Enterprise Fund v. PCAOB

Posted by Teresa Bockwoldton Sun, Jun 27, 2010 @ 12:00 PM

I read a press release titled "Decision in Free Enterprise Fund v. PCAOB". To read the full press release, click on the link below: 

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Tags: Sarbanes-Oxley Articles & Information, Compliance tools, Announcements, 404, 404 audit, audit costs, Sarbanes-Oxley Training, compliance, risk management, Sarbanes-Oxley, external auditing, Sarbanes-Oxley for Non-Profits

Compliance Alert: Status of Sarbanes-Oxley Section 404(b)

Posted by Bill Bockwoldton Thu, Jun 24, 2010 @ 04:00 PM

Sarbanes-Oxley Section 404(b), defined as the requirement to have internal controls reviewed and opined by an external auditor, became a requirement for non-accelerated filers or those companies with a market cap of less than $75MM (after removing insiders, etc) on June 15, 2010.  

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Tags: Sarbanes-Oxley Articles & Information, 404 audit, Non-accelerated filer 404(b) information, Sarbanes-Oxley

SOX Compliance Made Simple®: Now Available in Mandarin!!

Posted by Teresa Bockwoldton Thu, Jun 24, 2010 @ 03:00 PM

Vibato is delighted to announce that we are now offering our SOX Compliance Made Simple® product suite in Mandarin. This includes our SOX Basic®Risk AssessmentSegregation of Duties, and all of our pre-defined process cycles and software.   

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Tags: Compliance tools, Announcements, 404, SOX Basic®, SOX Compliance Made Simple, Product Information, Sarbanes-Oxley, Compliance in China

Sarbanes-Oxley for the Non-Accelerated Filer: Another Satisfied Customer!

Posted by Teresa Bockwoldton Wed, Jun 23, 2010 @ 04:00 PM

VIBATO Successfully Delivers Small-Scale Sarbanes-Oxley Implementation For ORIGINOIL, INC.

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Tags: Vibato Success Stories

Compliance Alert: Independent Comp Committees May be Required

Posted by Teresa Bockwoldton Wed, Jun 23, 2010 @ 02:00 AM

The amendment below to the Wall Street Reform Act has been passed.  The amendment still needs to be signed into law but it requires (among other things) an Independent Compensation Committee.  This will impact certain exchanges and will most certainly be tested as part of Sarbanes-Oxley controls.

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Tags: 404, 404 audit, Non-accelerated filer 404(b) information, Sarbanes-Oxley, Entity Level Controls

Compliance Alert: More News on the Sarbanes-Oxley 404(b) Reprieve

Posted by Teresa Bockwoldton Sun, Jun 20, 2010 @ 04:00 PM

PriceWaterHouseCoopers posted a great update today. Please read the quoted summary below and follow the link to read the full update!

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Tags: Sarbanes-Oxley Articles & Information, Non-accelerated filer 404(b) information, Sarbanes-Oxley

Vibato on Facebook!

Posted by Bill Bockwoldton Thu, Jun 17, 2010 @ 04:00 PM

Vibato is now on Facebook!

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Tags: Vibato, Vibato on the Move!

From Tech Journal South: Supreme Court decision affecting Sarbanes-Oxley expected soon

Posted by Bill Bockwoldton Thu, Jun 17, 2010 @ 03:00 PM

Tech Journal South posted a great article today about the Supreme Court's soon expected decision on SOX.

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SOX 404(b) Debate Continued: More information from yesterday's meeting

Posted by Teresa Bockwoldton Wed, Jun 16, 2010 @ 05:52 AM

Again, from Fawn.  This is more information about how the permanent Sarbanes-Oxley 404(b) reprieve for non-accelerated filers was first voted down and then approved - both in the same meeting.  More to come. 

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Tags: audit costs, Non-accelerated filer 404(b) information, Sarbanes-Oxley

SEC Study: Benefits of 404 Expressed By Investors

Posted by Teresa Bockwoldton Tue, Jun 15, 2010 @ 04:00 PM

This is a study from the SEC.  It contains very interesting information on 404 and the benefits investors found in companies which complied with 404. 

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Tags: Sarbanes-Oxley Articles & Information, audit costs, Non-accelerated filer 404(b) information, Sarbanes-Oxley

Compliance Alert: Senate Negotiators Reject & then Accept 404(b) Exemption

Posted by Teresa Bockwoldton Tue, Jun 15, 2010 @ 02:00 PM

I contacted Fawn who posted the following press release today:

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Tags: Non-accelerated filer 404(b) information

Sarbanes-Oxley: How much does it cost to comply?

Posted by Bill Bockwoldton Tue, Jun 15, 2010 @ 01:00 PM

A 2007 study from the SEC of the benefits of Sarbanes-Oxley is listed below.   There are some excellent statistics about costing trends.  Now, our solutions are extraordinarily less expensive than the costs listed below but the information presented below is very meaningful.  

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Tags: audit costs, Non-accelerated filer 404(b) information, Sarbanes-Oxley

From Jake Leon: Auditors, analysts and institutional investors again join forces to oppose SOX Section 404(b) waiver

Posted by Teresa Bockwoldton Tue, Jun 15, 2010 @ 03:00 AM

Jake Leon from thecaq.com commented:

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Tags: Sarbanes-Oxley Articles & Information, Announcements, 404, 404 audit, audit costs, Non-accelerated filer 404(b) information, Sarbanes-Oxley Training, Sarbanes-Oxley for Non-Profits

Compliance Alert: Fate of SOX 404(b) to be discussed tomorrow!

Posted by Teresa Bockwoldton Mon, Jun 14, 2010 @ 04:00 PM

From the House Committee on Financial Services.  See the red text for Sarbanes-Oxley related topics, times/dates.

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Tags: Non-accelerated filer 404(b) information

Sarbanes-Oxley 404(b) Debate Continues...

Posted by Bill Bockwoldton Sun, Jun 06, 2010 @ 04:00 AM

As expected, there has been a lot of talk about the Wall Street Reform Act and what company's may do/not do if the permanent reprieve is granted.  This is a very interesting topic for us since we understand the need to lessen the financial burden of an audit but we often find it ironic that, even though our clients have been subjected to SOX 404(a) since 2007, they still are debating on changing up their 404 activities if the reprieve is granted.  To that end, I have to ask the question, what do you expect to change for your company if the reprieve were to happen (given that most of the companies debating this issue have never been subjected to a 404(b) audit – I’m missing the trigger that would cause the need for this debate…could it be that most of them were only doing Sarbanes-Oxley work because of the fear of review by their external auditor and now that they may never be subjected to a full-blown 404(b) audit they may decide to do nothing?!?!?… (which would be fraud by the way per the 302/906 certifications and 10Q Item 4’s and 10K item 9’s but that is beside the point))?  

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Tags: 404, 404 audit, audit costs, Non-accelerated filer 404(b) information, Sarbanes-Oxley