This is a great email alert that came out today from the SEC:Read More
Here's a quick tip on how your 10-K language may need to change to represent your compliance with the new COSO 2013 standards / Sarbanes-Oxley. Remember, this is due by 12/15/2014, it is not optional, and if you directly reference the 1992 guidance like most companies do, you will need to make this edit.
The SEC charged Jenny Copland of South Florida with defrauding investors in a Ponzi Scheme targeting the local Colombian-American community by telling investors that her company Immigration General Services operated through an investment broker that would invest the money she raised in immigration bail bonds and turn a profit.
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.
The SEC has charged the former CEO of ChinaCast Education Corporation with stealing tens of millions of dollars from investors and the former president with illegally dumping stock after helping to steal company assets. Read more here.