This “case study” is the latest in a series of articles aimed at helping public companies understand how other organizations are using technology to comply with new regulations and standards. These are not advertisements or marketing vehicles for the companies mentioned; Compliance Week’s editorial staff speaks with the public company that has deployed the technology, […]
Internal Controls
Posted inInternal Controls
Moving Past Fraud: A Talk With Computer Assoc. CCO
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. Compliance at Computer Associates is certainly a high-profile post. How did you get the job? I was chief compliance officer […]
Posted inInternal Controls
Case Study: Internal Control Software At FMC Corp.
This “case study” is the latest in a series of articles aimed at helping public companies understand how other organizations are using technology to comply with new regulations and standards. These are not advertisements or marketing vehicles for the companies mentioned; Compliance Week’s editorial staff speaks with the public company that has deployed the technology, […]
Posted inInternal Controls
Q&A With Corporate Compliance Officer At $1.7b Aquila
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. Describe your duties at Aquila. I don’t report to the office of general counsel, even though I’m a lawyer by […]
Posted inInternal Controls
SOX 404 Extension Doesn’t Negate 302 Certification
Issuers who breathed a sigh of relief when the Securities and Exchange Commission recently extended the Sarbanes-Oxley Section 404 compliance date should keep in mind that—despite the stay of execution with respect to 404—they still must file certifications about their internal controls under Section 302 every quarter. Zecca “Quarterly certifications for Section 302 indicate, among […]
Posted inAccounting & Auditing
Vendors Weigh Costs, Benefits Of SAS 70 Type II Audits
That companies outsource myriad business functions is no surprise these days. What is a surprise, however, is the lengths to which public companies must go to ensure that those vendors’ internal controls don’t become their undoing. That’s because, no matter what service is outsourced—like payroll, for example—responsibility for financial controls stays in place. But the […]
Posted inAccounting & Auditing
Vendors Weigh Costs, Benefits Of SAS 70 Type II Audits
That companies outsource myriad business functions is no surprise these days. What is a surprise, however, is the lengths to which public companies must go to ensure that those vendors’ internal controls don’t become their undoing. That’s because, no matter what service is outsourced—like payroll, for example—responsibility for financial controls stays in place. But the […]
Posted inInternal Controls
An Analysis Of The (Non) Impact Of SOX 404
In what may be the great non-event of 2005, most companies that report material weaknesses in their internal controls under Section 404 of the Sarbanes-Oxley Act are getting a pass from investors. MARKET REACTION Charted below are stock market reactions to the 18 companies that disclosed “material weaknesses” in their internal controls during the month […]
Posted inInternal Controls
Deloitte’s Chief Ethics Officer Talks Training, Benchmarking
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. Describe your job for us. My job is to assist the 32,000 people who are part of the various Deloitte […]
Posted inInternal Controls
Weakness, Deficiency Disclosures In February 2005
According to a review of internal control disclosures made during the month February 2005, 18 companies disclosed material weaknesses in their internal control over financial reporting, and five companies reported deficiencies. Some of the latter disclosures were considered “significant” deficiencies. The total number of 23 disclosures is up slightly from the 18 reported in February […]