SOX Center

FEI announced the results of its sixth Sarbanes-Oxley compliance survey, which found that Section 404 compliance cost Corporate America less in year three of adoption than in each of the first two years. FEI polled 200 companies to gauge experiences in complying with Section 404. Responding companies have average revenues of $6.8 billion.
According to […]

Several of the North Bay’s publicly traded companies will soon have to comply for the first time with the stringent accounting requirements of the federal Sarbanes-Oxley Act.
The Securities and Exchange Commission is still revising those requirements, and the companies face the dilemma of whether to prepare now using the current requirements or wait for the […]

Spirent Communications is dropping its New York listing because of the high costs of meeting the Sarbanes Oxley regulations on corporate governance.
The communications technology company said in a statement: “The US listing has become significantly more costly and onerous in recent years, not least due to the imposition of the Sarbanes Oxley regulations.”
The New York […]

Penthouse International Inc. settled charges of accounting fraud and financial reporting violations, the U.S. Securities and Exchange Commission said on Thursday.
Former Penthouse executive Charles Samel and former shareholder Jason Galanis also agreed to each pay $60,000 to a settle accounting fraud charges, the SEC said.
Penthouse, the adult magazine, was formerly owned by Penthouse International, a […]

The Corporate Directors Club, with nearly 600 members nationwide, today announced the first program for Professional Director Certification. Directors of public companies are under increased pressure and scrutiny since Sarbanes-Oxley and there is a growing need for well educated, skilled and experienced professional directors. The Corporate Directors Club, whose membership is open to all directors […]

The US Senate’s thumping defeat of an amendment to exempt certain small and medium-sized businesses (SMBs) from compliance with Section 404 of the Sarbanes-Oxley Act is bad for business US poiticians have declared.
SMBs fell foul of political battles by those decrying the amendment as an attack on shareholder protections and others countering that SOX is […]

Amcor Limited announced today that it intends to voluntarily withdraw its American Depositary Receipts (ADRs) from listing on The NASDAQ Stock Market LLC and to deregister its ADRs and its ordinary shares under the U.S. Securities Exchange Act after the recently adopted deregistration rules of the U.S. Securities and Exchange Commission (SEC) become effective on […]

The new world of corporate governance, in the view of Securities and Exchange Commissioner Roel Campos, is one in which Sarbanes-Oxley rules governing companies become more commonplace and affordable as shareholders continue to demand and receive more say over how companies are run.
“It’s what I see,” Campos said of the democratization trend with shareholders in […]

The Public Company Accounting Oversight Board on Friday concluded its first International Auditor Regulatory Institute.
Representatives from auditor regulators and government agencies from more than 40 countries convened on Wed., May 2, in Washington, D.C., to learn more about the PCAOB’s programs and how it carries out its mandate under the Sarbanes-Oxley Act of 2002.
The […]

Sarbanes-Oxley world continues to turn. And although many claim that it is spinning out of control, signs are beginning to indicate that a move to a more stable and rational environment is pending. Let me highlight just a few of the reasons for the roller coaster ride and some of the relief that is on […]