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Addressing Sarbanes-Oxley and Corporate Governance Challenges and Opportunities
Posted By claudia On 5th April 2007 @ 12:19 In SOX, Section 404, Conferences, North America, Company News | 1 Comment
On April 10th, at 1:30 p.m. EST, join OiWare’s CEO Alec Brophy for a 30-minute Web cast with an interactive discussion .
Join OiWare’s CEO Alec Brophy 30 Minute Web cast with an interactive discussion will highlight:
- Market trends and developments
- Vision on the market and positioning of OiWare
- Concerns for executives
- The need for a Sarbanes-Oxley and corporate governance solution
Register at:[1] www.oiware.com
By December 15, 2007, all public companies with yearly revenues totaling $75,000,000 or less are mandated to comply with section 404(a) of the Sarbanes-Oxley (SOX) Act of 2002. Section 404(a) holds management responsible for internal control procedures Section 404(a) which requires these non-accelerated filer’s to complete documentation of internal controls and procedures for financial reporting.
Software vendors are creating new and revising old products to handle the Sarbanes-Oxley compliance, while auditors try to keep from drowning in the workload. In many cases, organizations are using the software products they know rather than adopting new products that can increase their productivity and help them reduce costs and work hours. Typically, clients are tracking their significant accounts and processes in either a relational database or in a simple Excel-based spreadsheet. A survey of SOX compliance implementers noted that 88.9 percent of the respondents were using generic products such as Excel, Access or Visio to complete SOX related tasks. Companies can save valuable time and money resources by instead implementing software applications designed specifically for SOX compliance.
1 Comment To "Addressing Sarbanes-Oxley and Corporate Governance Challenges and Opportunities"
#1 Comment By George On 3rd May 2007 @ 11:13
“Corporate Governance by Management Not External Auditors…SOX 404(a) compliance.”
Section 404 of Sarbanes-Oxley requires every public company’s annual report to contain a statement of management’s responsibility for establishing and maintaining an adequate internal control structure and procedures for financial reporting. Section 404 also requires the company’s auditor to attest to and report on management’s assessment of the effectiveness of the company’s internal controls and procedures for financial reporting.
Join us for a FREE demonstrations that are provided everyday at 10:00am, 2:00pm and 4:00pm (EST). Simply click here to register http://www.oiware.com/demo.htm and complete the form below and you will receive a log-in ID and password with instructions.
By December 15, 2007, all public companies with yearly revenues totaling $75,000,000 or less are mandated to comply with section 404(a) of the Sarbanes-Oxley (SOX) Act of 2002. Section 404(a) holds management responsible for internal control procedures Section 404(a) which requires these non-accelerated filer’s to complete documentation of internal controls and procedures for financial reporting.
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URL to article: http://www.sox-center.com/2007/04/05/addressing-sarbanes-oxley-and-corporate-governance-challenges-and-opportunities/
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