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Accelerated filers of course have long been subject to SOX 404 (a), requiring management reporting on the effectiveness of internal control over financial reporting, as well as section (b), where auditor attestation is required. While having to incur tremendous costs, with some companies seeing little commensurate benefit, others have seen improvement in business process effectiveness, [...]
[Read More]You may be as amazed as I in continuing to encounter intelligent, accomplished business people who still don’t understand what Sarbanes-Oxley’s internal control requirements are about. Let me share a recent experience.
I’ve been working with a large multi-national company’s board of directors to identify shortcomings in corporate governance and enhance practices and performance. This has [...]
Thank you for your vote! OpenPages ranked #1 in the 2009 OpRisk & Compliance Magazine Compliance Survey for “Compliance Controls and Monitoring”, and ranked highly for Sarbanes-Oxley and GRC. This year’s Compliance Survey falls on the heels of the 2009 Operational Risk Software Survey in which OpenPages ranked first in scenario analysis and 3rd overall. [...]
[Read More]The Globe published an interesting article today about a Harvard Business School professor that resigned just before the scandal at Satyam broke. This was no ordinary professor. Krishna Palepu is an expert in corporate governance, control and accounting, and corporate management in emerging markets. In short, the perfect resume for a Satyam board member. So [...]
[Read More]The ultimate goal for many GRC professionals is to arrive at a converged GRC program with a supporting technology platform. We often tell our customers that it is important to take a phased approach when planning an enterprise deployment of a GRC management solution and that they should set expectations and goals for each phase as their risk management program matures.
For [...]
Did you happen to see where Danile Bouton, head of French bank Société Générale, admitted in an interview published on the French Internet site Mediapart that the bank’s internal control systems had faults.
Bouton said: "The controls were carried out in accordance with the rules for each area concerned” … [but] "a horizontal method for assessing [...]
Currently, in Japan, much focus amongst the business community is on J-SOX. The law comes into effect for all listed companies starting April 1st 2008. Given that this law effects nearly 4,000 listed companies, it is only apt that it is getting the vast majority of attention.
However there are other regulations that have also been [...]
