SOX Center

The Office of Advocacy today praised Securities and Exchange (SEC) Commissioners Paul Atkins and Kathleen Casey for their willingness to reconsider the SEC decision not to extend the deadline for small public firm compliance with section 404 of the Sarbanes-Oxley Act. Advocacy wrote to the commissioners in the wake of the SEC’s decision not to […]

The financial burden of Sarbanes-Oxley Act (SOX) compliance is slowly, but surely starting to ease.
The cost of compliance with Section 404 of the SOX declined by 23% in fiscal 2006, according to a survey by Financial Executives International.
The Florham Park, New Jersey-based organization found the average company spent $2.9 million on SOX compliance in 2006, […]

Research and Markets has announced the addition of “A Focus on Law Analysis: The Intricacies and Effects of Sarbanes-Oxley Legislation” to their offering.
This 25-page research report written for all executives examines in-depth, the intricacies and effects of Sarbanes-Oxley legislation. From pre-Sarbanes obstruction of justice statutes to new Sarbanes-Oxley provisions; from a point-by-point look at several […]

The Sarbanes-Oxley Act, passed by the US Federal Government in response to the Enron scandal in 2002 has caused BioProgress to delist from NASDAQ for the second time, adding to the register of European firms fleeing the US market.
Cambridge-based specialty pharma and healthcare company, BioProgress has announced its intention to delist from the NASDAQ stock […]

To help CFOs of smaller companies navigate wisely through the Sarbanes-Oxley compliance process, Lord & Benoit has published a study, “10 Threats to SOX Compliance for Smaller Public Companies.”
The study comes on the heels of actions by the SEC and PCAOB to require smaller public companies to comply with SOX this year.
In summarizing the results, […]

Sarbox ‘no longer makes sense from a cost and administrative perspective’ says chemical giant’s CFO as ICI prepares to leave New York Stock Exchange.
ICI is gearing up to leave the New York Stock Exchange to free itself from the blight of Sarbanes-Oxley compliance.
The company predicted a £4m annual saving from the de-listing based on the […]

The PCAOB has killed its reviled internal-control standard. Now it’s up to the SEC to pronounce it officially dead.
Perhaps the most hated rule to come out of the Sarbanes-Oxley Act is dead. Well, almost. On Thursday, the Public Company Accounting Oversight Board voted unanimously to replace its controversial internal-control auditing standard with Auditing Standard No. […]

Since the Sarbanes-Oxley Act was adopted in 2002, non-U.S. issuers have become increasingly disenchanted with the regulatory burden of being listed on a U.S. stock exchange or otherwise having SEC reporting obligations. The most significant reason for non-U.S. issuers wanting to terminate their U.S. obligations is to avoid the internal control requirements under section 404 […]

The timing of the scandal helped build support for tougher rules in the 2002 bill on securities laws.
His name is not on the law, but maybe it should be. Perhaps more than either Sen. Paul S. Sarbanes or Rep. Michael G. Oxley, Bernard J. Ebbers is responsible for the far-reaching change in U.S. securities laws […]

The US Treasury has welcomed a statement released by the Securities and Exchange Commission and the Public Company Accounting Oversight Board regarding their votes to address the implementation of Section 404 of the Sarbanes-Oxley Act:
“The SEC and the PCAOB, after carefully considering the effects of Section 404, moved this week to strike the right balance […]