20.12.2005 GAO cites SEC for continuing weaknesses in its internal controls
Problems found in 2004 remained through 2005, but no regulatory compliance issues were uncovered...

19.12.2005 Despite new regulations, financial fraud is on the rise, and internal audits are not the first line of defense
Despite or because of the global spread of corporate governance codes, reports of financial fraud rose 22 percentage points in the last two years, reported Pricewaterhouse Coopers...

15.12.2005 The Impact Of Sarbanes Oxley On Companies, Investors, & Financial Markets
Today's corporate environment is clouded by widespread suspicion and mistrust. The high-profile failures of Enron, WorldCom and Global Crossing, followed by the revelations of improper financial reporting in complicity with outside auditors led Congress to enact the Sarbanes-Oxley Act...

14.12.2005 Major Securities and Exchange Commission Accomplishments for 2005
The SEC has received an unqualified opinion on its 2005 financial statements. In its audit opinion, the Government Accountability Office (GAO) concludes that the SEC^™s financial statements are presented fairly...

07.12.2005 Banks chose to invest in people for SOX compliance
Most spent less than 10 percent on IT...

02.12.2005 Fraud investigators like SOX
A recent survey of certified fraud examiners found that most of them considered Sarbanes-Oxley to be an effective weapon against fraud, but they worry that corporate executives won't remain focused on the issue...

01.12.2005 Graduated compliance for smaller companies?
Subcommittees of the SEC's Advisory Committee on Smaller Public Companies last week presented some preliminary proposals that would grant smaller firms certain exemptions to Sarbanes-Oxley Section 404 auditing requirements...

30.11.2005 Digital data security requirements for federal agencies still being tweaked
Mandatory security practices for federal agencies will probably not be revised until next February, and until then the National Institute of Standards and Technology will continue to accept suggestions for the revision...

28.11.2005 Microsoft calls for federal data privacy legislation
Recoiling from the idea of 50 different state privacy laws, Microsoft has come out in favor of a federal standard for personal data security...

25.11.2005 Federal Data Theft Law Unlikely to Pass Before 2006
CSO Magazine supposes that there too many weak data theft bills in Congress, so lawmakers don't have time to pass an effective legislation before 2006. As for toothless acts that are proposed by some organizations, they don't have a chance...

22.11.2005 One More Weak Federal Data Leakage Law Candidate
Congress is going to examine one more bill called the Data Accountability and Trust Act. Although the legislation require companies whose data is compromised to notify each individual affected in writing, it has very weak “security breach" definition...

21.11.2005 Federal agencies confront government version of SOX
New fiscal year brings into effect Circular A-123, which imposes internal controls within Federal agencies similar to those required of private firms by Sarbanes-Oxley...

20.11.2005 SEC Charges 7 with Aiding and Abetting Financial Fraud
The Securities and Exchange Commission has filed enforcement actions against seven individuals alleging they aided and abetted a massive financial fraud by signing and returning materially false audit confirmations...

19.11.2005 Accelerated annual report deadlines draw fire
Under a proposed SEC plan, large corporations would have 60 days instead of 75 to file their annual reports after the end of a fiscal year...

16.11.2005 Ernst&Young on regulatory compliance
According to Ernst&Young, regulatory compliance is now the key driver for two thirds of firms worldwide. Focusing on the problem, companies are failing properly to asses the risks of dealing with suppliers and outsourcing partners. The second serious problem is information leakage prevention and control over mobile devices and portable storages...

11.11.2005 Congress Is Going to Pass Toothless Data Theft Law
Federal lawmakers are going to pass the law that will address national data theft problem. However many privacy and security experts suppose that the zeal to see legislation passed may result in a toothless nationwide law which is weaker than state measures already in place...

03.11.2005 Donald Nicolaisen & Alan Beller Comment on New COSO Guidence On Section 404 Compliance
The staff will continue to monitor and assess the effects of the internal control reporting rules on smaller public companies...

03.11.2005 BPOs May Not Be Liable For Data Theft
An amended Indian IT Act will exclude BPOs from being a network service provider. Hence outsourcing firms will not be held liable for any clients' sensitive data theft that will probably incerase insider trading and credit card or bank account details leakages...

02.11.2005 Alabama Is to Protect Citizens' Private Data
The Criminal Justice Information Center Commission of Alabama decided to change police reports form putting victims' personal information and details about crimes out of public view...

17.10.2005 Basel risk tutorial for banks
The Reserve Bank of India today asked commercial banks to put in place a framework that would ensure management of operational risk as an independent function within the organisation...