In my last column, which was published in Compliance Week’s November 2005 monthly print magazine, I outlined some of emerging thinking—and changes in direction—regarding compliance with Section 404 of Sarbanes-Oxley (see “Resources, Ownership And Discipline; Key 404 Lessons” in box at right). This month we continue the discussion, now looking at what some companies are […]
Richard M. Steinberg
Posted inInternal Controls
Resources, Ownership And Discipline; Key 404 Lessons
Now that most accelerated filers are coming down the homestretch regarding Section 404 of the Sarbanes-Oxley Act, it’s worth looking at what companies have experienced, and how they’re building on lessons they learned from last year’s efforts. And though there’s still work to do, patterns and trends are emerging that show how companies are dealing […]
Posted inBoards & Shareholders
Putting “Watchdog” To Rest; Boards Don’t Just Monitor
The hair on my neck is bristling. This happens when I get agitated. I shouldn’t be agitated, though, because I’m sitting in a comfortable leather seat of a large airplane on the tarmac of an international airport, headed off for vacation, with my lovely wife next to me and a perfectly brewed mug of coffee […]
Posted inBoards & Shareholders
Self-Assessment For The Board: What Works, What Doesn’t
Agrowing number of boards of directors are assessing the effectiveness of their own performance. Some are doing so because they are required to under rules promulgated by the New York Stock Exchange; others are driven by the guidance of governance-oriented organizations, by perceptions of governance “best practice,” or simply by a desire to bring more […]
Posted inAccounting & Auditing
For Chief Audit Executives: Getting Back To Your Day Job
In the last year or more, chief audit executives and their staffs have stepped up to the plate Big Time in their company’s compliance with the requirements of The Sarbanes-Oxley Act of 2002; studies have shown that internal audit functions spent one-half or more of their resources dealing largely with the internal control requirements of […]
Posted inBoards & Shareholders
Management, Auditor Support Of The Audit Committee
This column is the last in a three-part series on audit committee responsibilities.Click here for previous columns by Richard Steinberg. In my last two columns, we discussed the tremendous challenges facing audit committees—from deciding on the scope of the committee’s responsibilities, to determining the most effective and efficient ways to carry out those responsibilities. This […]
Posted inFrom the Archive
How Audit Committees Best Carry Out Responsibilities
This column is the first in a three-part series on audit committee responsibilities. The next column in the series will be published June 21, 2005. Click here for previous columns by Richard Steinberg. In this column last month, we discussed how serving as an audit committee member is among the most challenging roles in today’s […]
Posted inBoards & Shareholders
Rules & Expectations: What’s An Audit Committee To Do?
This column is the first in a three-part series on audit committee responsibilities. The next column in the series will be published May 23, 2005. Click here for previous columns by Richard Steinberg. Serving as an audit committee member of a corporate board is among the most challenging roles in today’s business environment. Responsibilities have […]
Posted inEthics & Culture
True Stories: Why Setting The Right Tone Really Matters
Whatever your role in your company—be it director, CEO, or senior executive—you’ve undoubtedly heard a great deal about the need for your company to set the right “tone at the top.” But what is the “right” tone? Well, that’s usually easier to identify than articulate; the answer to the question is similar to the oft-paraphrased […]
Posted inInternal Controls
Will “Bad” 404 Reports Be The End Of The World?
Now that calendar year accelerated filers are putting the finishing touches on their internal control reports required by Sarbanes-Oxley Act Section 404, many are wondering how many companies will disclose one or more material weaknesses, and what the marketplace reaction will be. Trying to forecast the number and impact is like forecasting earthquakes in California; […]
