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Sarbanes-Oxley News
Article:
SEC moves to reduce Sarbanes-Oxley costs
The Sarbanes-Oxley Act (SOX), which requires companies to have controls in place to prevent financial error and fraudulent activity, has been widely criticized by the corporate world for being too costly. In response, the SEC and the Sarbanes-Oxley-created Public Company Accounting Oversight Board are proposing changes that would lessen the strain on companies trying to achieve SOX compliance. These combined changes to Sarbanes-Oxley's Section 404 would allow corporate mangers to focus more on risky areas prone to triggering financial misstatements and would allow auditors to rely more on internal auditing efforts. It is expected that the new rules will make the benefits of Sarbanes-Oxley outweigh the costs.
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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