Regulators will give their final approval to compliance reforms for Sarbanes-Oxley this week, sealing the fate of small companies that have dodged compliance with SOX’s notorious Section 404 provisions for three years. The Securities and Exchange Commission is expected to vote Wednesday, May 23, on final guidance to help companies understand their obligations under Section […]
Melissa Klein Aguilar and Tammy Whitehouse
Posted inAccounting & Auditing
SEC On Revenue; FASB EPS Guidance; More
B iotech companies, take note: An accounting position recently taken by the Securities and Exchange Commission could affect revenue recognition under new and existing collaborative arrangements that contain joint steering-committee obligations, lawyers at the law firm Cooley Godward Kronish say. Under collaborative agreements, biotech companies research a new drug compound, and license its latter-stage development […]
Posted inAccounting & Auditing
Tips From Campos; SEC OKs Option Scheme
S ecurities and Exchange Commissioner Roel Campos had a few suggestions for companies recently on how boards can control runaway executive compensation, before the issue explodes into shareholder ire. Foremost, he said: Boards should do their homework before hiring an executive. “The board must investigate and do diligence on the front end,” Campos said in […]
Posted inInternal Controls
SOX 404 Changes Finally Released
Just in time for the holidays, the Securities and Exchange Commission has presented its long-awaited guidance to help companies improve compliance with Section 404 of Sarbanes-Oxley. A text of the specific proposal was not immediately available, but the Commission voted Dec. 13 to issue new interpretive guidance to help corporations conduct evaluations of their internal […]
