All Sarbanes-Oxley articles – Page 3
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Blog
House panel ponders rollbacks, including internal control audits
A House sub-committee is asking whether federal regulation has hindered the growth of public companies, including Sarbanes-Oxley auditing of internal controls.
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Blog
SOX exemption saves plenty, costs more, study says
A new study calculates the cost and benefit of exempting smaller companies from SOX internal control audits — and it suggests investors aren't better off.
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Blog
SOX pros say external audit costs increased in 2016
Big companies subject to SOX reporting said their external audit costs increased in 2016 as auditors continue to report pressure from PCAOB inspections.
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Companies take action against rising audit costs, FERF study says
Tammy Whitehouse has the results of a new study that shows audit cost increases for public companies are outpacing inflation, but the largest companies are taking measures to keep cost increases in check.
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Workiva, Frazier & Deeter partner to help companies modernize GRC processes
Workiva, a business software company, has announced a partnership with accounting tax, and consulting services firm, Frazier & Deeter, to complement Wdesk implementation for the Sarbanes-Oxley Act and risk management. In other news, Workiva announced that it was named as a leader in the Gartner Magic Quadrant for Financial Corporate ...
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Blog
A post-TARP proposal: Make CEOs certify banks are fraud-free
Amid demands for Wall Street prosecutions, a proposal by the special inspector general for the Troubled Asset Relief Program would force top bank executives to certify that their institutions are free of criminal conduct and civil fraud. Joe Mont has more.
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Article
As SOX costs persist, companies automate more controls
To cope with cost increases and ongoing audit demands, companies are turning to technology to automate more of their SOX internal control. Tammy Whitehouse explores further.
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SOX redux—an opportunity for a fresh look
In this edition of the Compliance Week/OCEG GRC Illustrated Series, we take a look at new technology that can streamline SOX processes and give insight into risk to drive better business outcomes.
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Rising cost of SOX compliance is pushing companies to rethink compliance strategies
A recent Protiviti survey notes that the bigger the company, the bigger the SOX compliance costs. Smaller companies audited by regional firms have lighter requirements, writes Tammy Whitehouse, but at the end of the day, SOX compliance is expensive for everybody.
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BlogLatest survey suggests uneven costs for Sarbanes-Oxley
A recent survey from Protiviti finds that half of those accelerated and large accelerated filers participating in the survey claim their external audit fees related to Sarbanes-Oxley compliance increased in fiscal 2015, while 52 percent of non-accelerated filers said their fees decreased. Tammy Whitehouse has more.
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Blog
More time, cost required in 2015 to comply with SOX, survey says
A majority of the 1,500 companies polled by Protiviti said the number of hours they devoted internally to Sarbanes-Oxley compliance in 2015 increased by more than 10 percent. Tammy Whitehouse has more study results inside.
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Blog
Bill would amend SOX, add cyber-security certifications
Newly proposed legislation would amend the Sarbanes-Oxley Act to expand mandated internal controls reports and disclosures to include cyber-security systems and risks of publicly traded companies. The Cyber-security Systems and Risks Reporting Act, sponsored by Rep. Jim McDermott (D-Wash.), has been referred to the House Committee on Financial Services. Joe ...
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Blog
Former Rep. Michael Oxley, Co-Author of "SOX," Dies at Age 71
Image: Former U.S. Rep. Michael G. Oxley, co-author of the landmark Sarbanes–Oxley Act of 2002 (SOX), died Jan. 1, 2016, at age 71. SOX was enacted July 30, 2002, in response to a series of massive accounting scandals involving public companies such as Enron and Worldcom. In March 2012, Oxley ...
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Article
Smaller Companies Struggle Forward on SOX Compliance, System Investments
More grist for smaller reporting companies unhappy with your compliance burdens: A new report finds that although all businesses continue to invest in SOX compliance, smaller companies still report less benefit from the effort. Inside, we look at which parts of compliance are most troublesome for small filers (“If they ...
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Blog
Lockheed Wants Out of 40-Year-Old Disclosure Demand
Lockheed Martin wants a federal judge to end a 40-year-old SEC requirement of advance notice for changes to its anti-bribery policies. Lockheed argues that the Sarbanes-Oxley Act, FCPA requirements, and a move to online shareholder information make the requirement obsolete and unnecessary. More inside.
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Blog
Study Says CFOs Still Control Audit Fees at Many Companies
Image: Title: MauldinNew academic research suggests the CFO, not the audit committee, still often negotiates the audit fee, despite Sarbanes-Oxley Act provisions meant to put audit committees in the driver’s seat. “At many companies it is still primarily the CFO who calls the shots,” says Elaine Mauldin, professor at the ...
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