Monday, April 16, 2007

Sarbox changes welcomed but imitators abound

arewell, Hotel California. This week's decision by US regulators to make it easier for foreign companies to escape Sarbanes-Oxley when they delist from a US stock exchange will be welcomed by many companies that had complained the rules meant you could – in the words of the Eagles song – "check out any time you like, but you can never leave".

But is Sarbox all bad? The US has sustained a barrage of criticism for introducing a law, whose Section 404 provision on internal and auditor checks was seen as one of the most intrusive, and costly, measures ever foisted on corporate executives.

Sarbox changes welcomed but imitators abound

Labels: Austrailia, Brazil, Canada, EU, France, Hong Kong, internal control, Mexico, sec 404 sox

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Saturday, March 31, 2007

SEC Slates Meeting to Bridge Gaps on 404

Acknowledging gaps between proposals by the Securities and Exchange Commission and the Public Company Accounting Oversight Board for complying with Section 404 of the Sarbanes Oxley-Act, the SEC will hold an open meeting next Wednesday to talk about how the two regulators can march in lockstep on internal controls.

"At the meeting the Commission’s staff will describe the remaining issues in aligning the proposed approaches, and those issues will then be considered by the Commission," the SEC stated in a release.

SEC Slates Meeting to Bridge Gaps on 404

Labels: sec 404 sox

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