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Sarbanes-Oxley News
Article:
Sarbanes-Oxley 404 exemption defeat means status quo for SMBs
The Sarbanes-Oxley Act (SOX) was passed in 2002 to improve corporate accountability and investor confidence. The U.S. Senate recently defeated an amendment offered by a Republican Senator, which would have permanently exempted public companies with market values of less than $700 million from Sarbanes-Oxley's Section 404. Democrats said they were advocating for shareholders through this vote, while most Republicans countered that Sarbanes-Oxley is bad for U.S. competitiveness. The SEC and the Public Company Accounting Oversight Board are both expected to release guidance that will make Section 404 of SOX compliance easier to understand. In fact, the SEC has already provided several deadline extensions for smaller companies trying to achieve SOX compliance, acknowledging that it is harder for businesses with less infrastructure.
The Sarbanes-Oxley News Article
About OpenPages
OpenPages is the leading provider of Governance, Compliance and Risk
Management solutions
for Sarbanes-Oxley Compliance, Financial Controls Management, General
Compliance Management, Operational
Risk Management and IT
Governance.
The company’s solutions provide the visibility, decision support and
control to improve accountability, better manage risk, achieve compliance
with numerous regulations, improve operational performance and align strategies
to ensure better results.
Market-leading corporations in financial services, manufacturing, telecommunications,
media/entertainment, retail/consumer, energy, high technology, health services
and life sciences rely on OpenPages to help them achieve sustainable governance,
risk and compliance management -- enabling them to become well-governed businesses.
Founded in 1996, the company is headquartered in Waltham, Massachusetts, with
regional offices throughout North America and international offices in London, Munich, Paris, Tokyo and Hong Kong.
For more information on OpenPages' suite of business governance software solutions
or to register for an online demonstration, please call 781-693-5999 or visit
www.openpages.com.
Reynolds American Selects OpenPages FCM for Sarbanes-Oxley Compliance.
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