Hong Kongs SFC Fines Company $2.7 Million

Posted by Alexa Foxon Tue, May 31, 2016 @ 11:27 AM
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Tags: Internal Controls, best-practice, internal audit, Hong Kong, deficiencies, future trading, SFC, China, Fined, compliance, Compliance in China, accounting, securities and futures commission, short sales, internal controls failures

Failed Audits of China-Based Company Lead to SEC Charges

Posted by Juliette Gibsonon Wed, Oct 02, 2013 @ 02:59 PM

Since our Vibato® Internal Control Suite® tools are available in Mandarin and our products have been being sold in China for several years, we are always interested in news surrounding SEC audits there. It is unfortunate to see a US-based auditing firm failing their clients and helping to continue the negative press China companies often receive while trying to comply with SEC standards. 

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Tags: audit, Securities and Exchange Commission, financial reporting, Compliance in China, SEC, SEC fines, audit deficiency

PCAOB Outlines Audit Risks in Emerging Markets

Posted by Nancy Johnsonon Tue, Oct 04, 2011 @ 01:48 PM

Yesterday, the PCAOB  issued Staff Audit Practice Alert No. 8: Audit Risks in Certain Emerging Markets, which the PCAOB says "focuses on the risks of misstatement due to fraud that auditors might encounter in audits of companies with operations in emerging markets, auditors' responsibilities for addressing those risks, and certain other auditor responsibilities under PCAOB auditing standards." 

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Tags: reverse merger, audit committee, Compliance in China

SOX Enforcement News: Justice Department & Chinese Companies

Posted by Nancy Johnsonon Fri, Sep 30, 2011 @ 02:24 PM

As widely reported on September 29, 2011, the Justice Department has joined the SEC in investigating alleged accounting fraud at Chinese companies listed on U.S. markets. In response, the market punished several Chinese companies listed on the Nasdaq (as much as 23%) which in turn brought the Nasdaq composite down over 1%.

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Tags: SOX & the Justice Department, Compliance in China

Internal Control Is Common Thread Across News Stories

Posted by Nancy Johnsonon Fri, Sep 16, 2011 @ 12:26 PM

Internal controls are often considered a necessary evil by finance executives and board members. And it's true that with so many strategic issues to address, it can be challenging to carve out the time and attention to ensure that internal controls are in place, designed appropriately, and operating effectively.

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Tags: Internal Controls, Compliance in China, PCAOB

VIBATO DELIVERS ROBUST INTERNAL CONTROL IMPLEMENTATION FOR WORLDWIDE ENERGY AND MANUFACTURING USA, INC.

Posted by Bill Bockwoldton Thu, Oct 07, 2010 @ 01:54 PM

VIBATO DELIVERS ROBUST INTERNAL CONTROL IMPLEMENTATION FOR WORLDWIDE ENERGY AND MANUFACTURING USA, INC.

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Tags: Vibato Success Stories, 404, Compliance in China

Sarbanes-Oxley Compliance: Not Slowing Down!

Posted by Teresa Bockwoldton Fri, Aug 27, 2010 @ 04:00 PM

We thought this information would be interesting to our readers.    
As many of you know, since March of this year, I have been in Spain, Italy, all over China (several times), and all over the US implementing Sarbanes-Oxley requirements using our SOX Compliance Made Simple © product with great success.  

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Tags: Non-accelerated filer 404(b) information, SOX Basic®, SOX Compliance Made Simple, Wall Street Reform, Product Information, Sarbanes-Oxley, Compliance in China

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

Internal Controls/Procedures Sub Certification Available in Mandarin

Posted by Teresa Bockwoldton Fri, Mar 12, 2010 @ 03:00 PM

We are delighted to start offering our SOX Compliance Made Simple® Toolset in other languages.  To start with, we have a nice Section 404, sub-certification sheet available for free download with registration.  Here is a sample of what it looks like:

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Tags: Vibato Products, Compliance in China

Vibato Wins 2 More Locations in China for Sarbanes-Oxley Compliance!

Posted by Teresa Bockwoldton Fri, Mar 12, 2010 @ 03:00 PM

Vibato is delighted to announce that we will be implementing our SOX Basic® product at two more facilities in Shanghai, China for Worldwide Manufacturing USA, Inc. This will allow me to stay in China for another week to complete the implementations.  As many of you know, our implementations are very quick; less than 1 day per location.  I will be staying an additional day at each location to gather testing evidence and then leaving to come back to the states on 3/19.

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Tags: Vibato Success Stories, Compliance in China