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Regulation - SEC to look at Sarbanes-Oxley Act.
(From Reinsurance)
The Securities and Exchange Commission (SEC) has announced that it will host a roundtable discussion in spring 2005, to look at registrants' and accounting firms' experiences implementing the new reporting requirements under Section 404 of the Sarbanes-Oxley Act of 2002. The roundtable, which will include representatives of the Public Company Accounting Oversight Board (PCAOB), issuers, auditors, investors and other interested parties, is tentatively scheduled for April 2005.
Brought in following a string of corporate scandals, such as the collapse of companies such as Enron and WorldCom, Sarbanes-Oxley has subsequently been criticised for the amount of money needed for large corporations to implement it.
Section 404 and rules adopted by the SEC require all entities, both US and non-US, that file annual reports with the SEC to report to investors on management's responsibilities to establish and maintain adequate internal controls over the company's financial reporting process. Each report must include management's assessment of the effectiveness of those internal controls, ...
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...today announced that it has completed its assessment that its internal controls over financial reporting were effective as of December 31...certification, required under Section 404 of the Sarbanes-Oxley Act, was achieved one year earlier than necessary under the...
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- Magazine article from: The Forensic Examiner Hurley, Diarmuid A. Boyd, David June 22, 2007 700+ words
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- Magazine article from: California CPA Ascierto, Jerry July 1, 2004 700+ words
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- SOX education: though not required to do so, universities that comply with...
- Magazine article from: University Business Foster, Mary December 1, 2004 700+ words
The Sarbanes-Oxley Act (SOX) of 2002 brought about sweeping changes for corporate America...university can begin assessing the adequacy and documentation of its internal controls by identifying the processes that are either the most problematic...
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- Magazine article from: HRMagazine April 1, 2008 700+ words
Acknowledging that the costs of Sarbanes-Oxley Act (SOX) compliance have been "significantly higher" than the U.S. Securities and Exchange Commission (SEC] originally projected...
- INN focus.(one in 10 surveyed chief financial officers and financial executives...
- Magazine article from: Insurance Networking News: Executive Strategies for Technology Management December 1, 2003 700+ words
At Issue: The Sarbanes-Oxley Act of 2002, section 404 (Management Assessment of Internal Controls) is designed to provide greater...with section 404 of the Sarbanes-Oxley Act. The deadline is August 2004...
