The Public Company Accounting Oversight Board has made a concept release on the "Possible Rulemaking Approaches to Complement Application of Section 105 (C)(6) of the Sarbanes-Oxley Act of 2002."
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Tags: Sarbanes-Oxley Articles & Information, Announcements, 404, deadline, 404 audit, Non-accelerated filer 404(b) information, compliance, risk management, Sarbanes-Oxley, external auditing
The article below was sent from a dear friend of mine and fellow SOX enthusiast, Clark Keeler, Director, BPM. I find the article to have a significant amount of irony considering it claims that "American business people of a conservative nature have been dreaming about driving a stake through the heart of the Sarbanes-Oxley act ever since the legislation was passed..." It would seem to me that if a person was truly fiscally conservative, they would consider Sarbanes-Oxley to be the prudent choice rather than the radical one. Internal controls require there to be a check point in a business procedure that requires someone other than the preparer of the documentation to verify the accuracy of what was prepared. This verification prevents someone from acting alone when making decisions about shareholder assets (physical assets, capital, intangible assets, etc). I am of the opinion that this double check adds a necessary layer of review considering the potential for fraud, errors, omissions, etc. Considering all that we at Vibato, LLC have found when testing internal controls, this is no longer just opinion but rather, fact. Read more on the article here:
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Tags: Sarbanes-Oxley Articles & Information, Compliance tools, Announcements, 404, 404 audit, audit costs, Non-accelerated filer 404(b) information, SOX Compliance Made Simple, Wall Street Reform, Sarbanes-Oxley Training, Sarbanes-Oxley, external auditing, Sarbanes-Oxley for Non-Profits
404(b) will no longer be required for non-accelerated filers per the Wall Street Reform Act that was signed into law on, July 21, 2010.
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Tags: Sarbanes-Oxley Articles & Information, 404 audit, Non-accelerated filer 404(b) information, Sarbanes-Oxley
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
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
