SOX Center

Investors who got a midsummer haircut last week during the Dow’s 735-point drop from 14,000 probably aren’t singing Happy Birthday for the Sarbanes-Oxley Act, which is 5 years old today. But maybe they should be.
If you think last week’s sell-off was bad, recall the summer of 2002. Enron had imploded, WorldCom admitted to fabricating billions […]

This past April, Japanese pitching sensation Daisuke Matsuzaka wowed Red Sox Nation with his “gyroball.” From now until next April, Dave Sackett expects to be equally mesmerized by Japan’s version of the corporate curveball.
The corporate controller of Ulvac Technologies is charged with implementing J-SOX — the Japanese edition of the Sarbanes-Oxley Act (sometimes abbreviated as […]

 Grilling the assembled members of the Securities and Exchange Commission about Sarbanes-Oxley, Barney Frank just took the time to note “I feel compelled by the spirit of bipartisanship to come to the defense of the Republican president and the Republican Congress that passed [Sarbanes-Oxley].”
CFO.com: SEC: No Help Needed from Congress

Roger Ehrenberg submits: I feared this day would come. And it’s here. No, not just the saber-rattling and moaning about how hedge fund and private equity-types are too rich, how hedge funds are increasing investor risks and debt buyers are accepting overly-liberal terms fueling the private equity juggernaut and the like.
But a newly-energized Democratic Congress […]

Commissioners of the government’s watchdog for Wall Street will face questions about their efforts to protect investors and oversee markets during a House hearing on Tuesday.
Members of the House Financial Services Committee will line up Tuesday afternoon to ask Securities and Exchange Commission Chairman Christopher Cox and the four other SEC commissioners about the agency’s […]

BIO Reiterates Support as Senate Small Business Committee Considers Changes
WASHINGTON–(BUSINESS WIRE)–As Securities and Exchange Commission (SEC) Chairman Christopher Cox and Public Companies Accounting Oversight Board (PCAOB) Chairman Mark Olsen prepare to testify before the Senate Committee on Small Business & Entrepreneurship today, BIO reiterated its support for changes to the Sarbanes-Oxley Act of 2002 […]

Commissioners gave the SEC staff the go-ahead to work with the PCAOB on making the proposed internal-control auditing standard less prescriptive and more aligned with Section 404.
The Securities and Exchange Commission is sending its accounting staff to work with the Public Company Accounting Oversight Board on additional revisions to the auditing standard that has been […]

Financial reporting is changing around the world and the implications are even being felt across the pond
When a tide turns you can hear, down on the foreshore, a huge noise. It is the sound of pebbles being pulled this way and that as the waters change direction. Journalists love the idea of tides turning. It […]

Bolstered by a series of delays granted by the SEC and highly publicized criticism of Sarbanes-Oxley legislation, many smaller companies are playing the waiting game with Section 404 compliance. With the deadline fast-approaching, smaller companies need to look beyond the hype and accept that SOX is not going away.
Rumors are circulating about the possibility of […]

The U.S. Chamber of Commerce had offered up a number of recommendations for changes to the country’s legal and regulatory framework — taking aim at Securities and Exchange Commission and the Sarbanes-Oxley Act in the process.
The chamber, which lobbies for 3 million companies and more than 800 business associations, has been a vocal critic of […]