Internal Controls

Corporate controllers exhausted from the Sarbanes-Oxley Act can take one bit of grim solace this summer: Their public sector colleagues will soon join them. “Circular A-123,” the federal government’s version of SOX to manage its own operations, will mandate drastic new internal control assessments from all government agencies when fiscal 2006 begins on Oct. 1. […]

As corporate America marked the third anniversary of the passage of The Sarbanes-Oxley Act of 2002, a group of leaders from the business community gathered in Washington D.C., to discuss an issue that’s been top of mind for public companies: whether the benefits of the sweeping legislation outweigh the hefty costs associated with compliance. The […]

The fact that hundreds of companies came clean about potential internal control problems as the Sarbanes-Oxley Section 404 deadline approached isn’t terribly surprising. What is surprising, says one researcher who recently analyzed the disclosures, is that most of those companies had said not too long before that their internal controls were effective. Among 366 companies […]

The advisory committee tasked with studying the impact of The Sarbanes-Oxley Act of 2002 on smaller public companies will meet next month in Chicago to hear from some of those entities about the costs and benefits associated with the Act, and to consider whether to further extend the compliance date of Section 404. Thyen James […]

Foamex International agreed this month to settle an investigation by the Securities and Exchange Commission relating to the company’s internal controls. The SEC’s informal inquiry of Foamex—which was revealed in April—marked what appeared to be the first time that a Commission investigation specifically targeting internal controls under The Sarbanes-Oxley Act of 2002 had been made […]

So much for “better luck next year.” A new survey of public companies indicates that a solid majority of them will struggle through Sarbanes-Oxley compliance in 2005 much as they did in 2004: understaffed, overworked, and awash in a sea of manual controls that require expensive testing and remediation. Hopes that last year’s inaugural efforts […]

This profile is the latest in a series of weekly conversations with executives at U.S. public companies who are currently involved in establishing and developing compliance programs. An index of previous conversations is available here. Your title is corporate controller. Are you personally in charge of governance and compliance at Arrow? Well, I’m controller. Along […]

Companies are describing extensive details about the measures undertaken to remediate internal control weaknesses disclosed as per Section 404 of The Sarbanes-Oxley Act of 2002. That’s according to Compliance Week’s latest analysis of internal control disclosures made during the month of June 2005. Some of the disclosures—including excerpts and the original filings—are available to subscribers […]

Companies are describing extensive details about the measures undertaken to remediate internal control weaknesses disclosed as per Section 404 of The Sarbanes-Oxley Act of 2002. That’s according to Compliance Week’s latest analysis of internal control disclosures made during the month of June 2005. Some of the disclosures—including excerpts and the original filings—are available to subscribers […]