As directors and executives at U.S. public companies, we’ve all got plenty of items to worry about—risk assessment, internal controls, stock option expensing, and the litany of other governance and compliance issues. Unfortunately, I’ve just discovered another. Fortune Magazine recently ran a cover story that discussed SCO Group’s lawsuit against IBM, claiming ownership of portions […]
Technology
Posted inTechnology
Software, Services Firms Launch Compliance Consortium
A group of software, content and services firms announced yesterday the launch of the Compliance Consortium, which will promote efficient enterprise governance, risk and compliance management. The consortium, spearheaded by enterprise compliance solution provider Axentis, includes a variety of other companies like risk consulting and internal audit firm Jefferson Wells, whistleblower reporting service The Network, […]
Posted inInternal Controls
Protiviti, Stellent To Collaborate On Compliance Platform
Stellent, a $78.5 million content management company that addresses SOX 404 through a “Sarbanes-Oxley Solution,” will announce this week that it plans to collaborate on a compliance platform with internal audit and risk consulting firm Protiviti. The co-marketed solution will combine Protiviti’s industry expertise with Stellent’s content management framework. In a recent conversation with Compliance […]
Posted inTechnology
Internal Control Software Firms Name Additional Clients
Nth Orbit recently announced that $3.2 billion beverage bottler PepsiAmericas and $34.7 million semiconductor equipment company AXT will use the company’s Certus software for their SOX 404 compliance efforts. Over $1 billion is expected to be spent on SOX-compliance technologies this year, according to AMR research. Durkin According to PepsiAmericas EVP and CFO Michael Durkin, […]
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SEC Chooses EMC For Email Management Solution
Last week, $6.2 billion EMC announced that the Securities and Exchange Commission would deploy the company’s solutions to help with storage management of email. The announcement is a huge win for EMC, which is seeing increased competition from IBM, HP, Zantaz and others in the records-retention market, and which is under pressure to justify the […]
Posted inInternal Controls
Internal Control Software Battle Heats Up
In a bold move, Waltham, Mass.-based OpenPages recently acquired the rights and assets of PricewaterhouseCoopers’ internal controls compliance software. The acquisition immediately brings over 350 PwC clients to OpenPages, positioning the company as a dominant leader in the emerging enterprise compliance management market. Software in this market generally helps companies manage their Sarbanes-Oxley compliance efforts, […]
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Audit, Risk Management Vets Joining IT Advisory Boards
Steinberg Technology companies are increasingly looking to industry veterans to help them develop products. On the heels of our coverage last week that COSO Report co-author Malcolm Schwartz had joined one technology company’s advisory board, SOX software provider e-Onehundred Group announced that Neil Jackson had done the same for them. Jackson, who has held senior […]
Posted inInternal Controls
AMR Q&A On The Market For Internal Control Software
Last week, we reported that $25.1 billion PepsiCo had purchased internal control and assurance software from Nth Orbit. That news was followed by an announcement a few days ago that $24.6 billion Viacom will use OpenPages’ SOX Express for Sarbanes-Oxley compliance. Amidst these and other internal control software announcements, we decided to ask industry expert […]
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Electronic Filing and the EDGAR System: A Regulatory Overview
Below is the complete text of an outline prepared by staff members of the SEC Divisions of Corporation Finance and Investment Management to aid electronic filers. Compliance Week has also made available a downloadable PDF version of the outline, which can be found in the box in the right-hand column. Overview In early 1993, the […]
Posted inInternal Controls
Complexity, Integration Are Barriers To Compliance
Buried deep in a recent study of financial-services compliance was some interesting information about typical barriers that prevent companies from achieving “first-rate” compliance. Most of the data collected in the study, which was conducted by PricewaterhouseCoopers and the Economist Intelligence Unit, was focused on financial institutions, and was therefore not entirely relevant to most CW […]