SOX Center

Suit alleges they tried to bridge gaps in the company’s performance by manipulating finances.
The Securities and Exchange Commission charged 4 former Nortel Networks executives with accounting fraud Monday.
Former CFO and controller Douglas C. Beatty, former CFO and CEO Frank A. Dunn, former Controller Michael J. Gollogly and former Assistant Controller and VP of corporate reporting […]

Experts and officials are questioning Apple’s stated reasons behind its proposed $1.99 fee to enable faster wireless technology in some already shipped Macs. The company on Thursday confirmed that it will charge users a small fee to enable the new, faster 802.11n wireless technology in its previously shipped Core 2 Duo-based Macs, saying that […]

Jim Clark, co-founder of internet icon Netscape Communications, has resigned as chairman of online photo site Shutterfly saying that Sarbanes-Oxley corporate governance regulations had ‘gone too far’.
In a letter to management released in a regulatory filing, Clark said one reason for him resigning was due to constraints imposed on major shareholders by the Sarbanes-Oxley securities […]

When the new Congress begins its session this week, two familiar faces will not be present: Senator Paul Sarbanes and Representative Michael Oxley, who are both retiring. Their main legacy will be the joint attack on corporate corruption that bears their names — the Sarbanes-Oxley Act of 2002.
The act, which was passed hastily in the […]

Hong Kong surged past New York this year and became the world’s second most popular place _ after London _ for companies to float new stock listings.
The city’s amazing success was due to several factors, analysts say. Being next door to mainland China’s booming economy was a huge help. Tough new U.S. accounting rules have […]

The Securities and Exchange Commission gave the smallest public companies five more months to comply with financial-control rules under the 2002 Sarbanes-Oxley Act.
Under the latest extension, the smallest companies will have to report on their controls in annual reports for fiscal years ending on or after Dec. 15, 2007.The previous deadline was for fiscal years […]

An U.S. District Court judge heard arguments Thursday challenging a sweeping 2002 federal law to clean up corporate accounting, in a case questioning whether the accounting oversight board created by the law is constitutional.
Free-market groups and a small Nevada accounting firm argue that the Public Company Accounting Oversight Board, which is charged with inspecting and […]

On the SEC site, see spotlight on Internal Control Reporting Provisions, which includes the SEC’s proposed guidance, “Management Reporting on Internal Control Over Financial Reporting”.
This is the first guidance from the SEC directed specifically toward management, and intended to be applied in context with the newly released draft auditing standard (AS5) published by the PCAOB […]

The SEC’s five commissioners are planning to propose changes to the audit rule of the Sarbanes-Oxley Act. Widely criticized by business for being costly and time-consuming, the law’s Section 404 requires auditors to review corporations’ financial controls in order to catch potential fraud.
Opposition to the rules, which were passed by Congress in the wake of […]

Regulators reportedly proposing changes in rules that businesses argue cost them an average of $3.8 million without improving accounting accuracy.
Businesses that have been complaining about the cost of complying with the Sarbanes-Oxley corporate reporting regulations will get some, but not all, of the relief they’ve been seeking, according to a published report.
The Wall Street Journal […]