The SEC Claws Back
by Dan Hurson, senior partner in The Hurson Law Firm LLP, in Washington, D.C. The case for strict enforcement of Sarbanes-Oxley Section 304 requiring CEO payback after restatements caused by “misconduct.”
by Dan Hurson, senior partner in The Hurson Law Firm LLP, in Washington, D.C. The case for strict enforcement of Sarbanes-Oxley Section 304 requiring CEO payback after restatements caused by “misconduct.”
By Ron Kral, Managing Director of Candela Solutions
Many organizations will be facing financial reporting control assessments and related external audit pressures for the very first time over the next two years. Yes, public companies have suffered millions of dollars in costs with limited benefits. Yes, there are regulatory inefficiencies and strained auditor relationships. Yes, I am talking about Section 404 of the Sarbanes-Oxley Act of 2002 (SOX). No, it does not have to be a wasteful exercise resulting in minimal benefits. This article identifies newer applicable organizations and the cornerstones to streamlining control assessment leading to cost-efficient and effective results.
Michael Oxley, former House chairman and co-sponsor of the landmark bill Sarbanes-Oxley, has been elected as the chairman of the board of directors for the Ethics Resource Center (ERC).
By Mary Somerville – Director at LECG Corporation
How did the once functionary role of Chief Compliance Officer become so important? Read on for a fast history and definition of the CCO, role and also a look at where this evolving position may be going.
In this week’s Compliance Blog Roundup, we link out to posts on current issues in business ethics, the potential bankruptcy of GM, potential codes of conduct for proxy advisors, the costs of SOX, and an anlysis of SharePoint for compliance.
In the latest edition of the Compliance Blog Roundup from CCI, we go to Re: The Auditors to see their new look and a review of Sarbanes-Oxley, plus links to news and notes about the SEC, the Stanford-Madoff connection, performance evaluation, and cloud computing compliance.
In this week’s roundup of Compliance News Headlines from CCI: the U.S. Chamber of Commerce has issued 23 recommendations to revamp the SEC, a new survey shows teens have conflicting views on ethics in business, and a tenet of Sarbanes-Oxley is shot down.
Internal audit and risk management all all levels of business function, it would seem, are a perfect match. Beth Karlin recently wrote an article that describes the conditions that are freeing internal audit teams for enterprise-wide risk assessment.
By Steve Liccione — Director of Corporate Compliance for Johnson Controls
When an organization sets the proper “Tone at the Top,” it is often laudatory and occasionally inspiring. But, it does not necessarily prevent corporate misconduct. It may not even dissuade it. C-Suite occupants must resist the siren song of “Tone” that can lull them into a sense of complacency. The “Top” can be duped into believing that it has done its part by merely singing the appropriate compliance lyrics.
As with people, a company’s actions – rather than words – best reflect intent and commitment. An executive’s pledge to foster a “culture of compliance” is insufficient. There must be an enterprise-wide dedication of resources to the compliance function. This commitment need not be measured solely in hard dollars or dedicated compliance staffing. Rather, properly directed employee efforts may be more significant and yield better results than hiring troupes of lawyers and accountants.
In the first Compliance Blog Roundup on Corporate Compliance Insights, CCI directs its readers’ attention to blog posts on executive compensation, Sarbanes-Oxley, and why corruption rises during downturns in the economy.
