21.03.2006 Canada gets its own version of SOX
New proposals will see Canada get its own version of the Sarbanes-Oxley Act. Public companies will have to prove to the Canadian Securities Administrators that they have effective internal controls over financial reporting...

17.03.2006 New risk assessment standards unveiled by AICPA
The American Institute of Certified Public Accountants has approved a series of new auditing standards for assessing risks linked to the fraudulent or erroneous assessment of a company's material assets...

15.03.2006 Sarbanes-Oxley strikes fear into top managers
A recent survey has revealed that directors from around the world are afraid of making mistakes and falling foul of the Sarbanes-Oxley Act...

13.03.2006 Sarbanes-Oxley devours $6Bln annually
Various respected sources have reported that the cost of complying with corporate regulations has doubled in the last three years...

11.03.2006 Online game operator faces lawsuit for mass identity theft
NCsoft, the creator of the computer games Lineage and Lineage 2, faces a lawsuit from thousands of identity theft victims in South Korea. It is believed 230,000 stolen identification numbers were used to register for the online games...

06.03.2006 Calls for easing of Sarbanes-Oxley meet resistance
A proposal by a subcommittee of the Securities and Exchange Commission to ease auditing checks of smaller businesses' internal controls has met with opposition from a former Federal Reserve chairman and a former SEC chairman...

25.02.2006 Are Europe's whistleblowers safe?
Conscientious employees voluntarily informing law enforcement agencies and regulatory bodies about violations by their employers are one of the most powerful aspects of the Sarbanes-Oxley Act. However, European laws do not provide the same level protection for whistleblowers...

24.02.2006 Russia unveils new understanding of state secrets
As a result of ambiguities surrounding the interpretation of numerous terms used in the list of information constituting state secrets, a decree was signed by the Russian president in mid-February establishing strict new definitions...

23.02.2006 Russians won't be subjected to State Population Register
Before the Russian parliament, the State Duma, began deliberating the second reading of the draft law “On personal data", President Vladimir Putin informed legislators that he viewed the inclusion of article No. 23 (on personal data identifiers) and article No. 24...

22.02.2006 Compliance with regulations top priority for banks
This is the conclusion that Fundtech reached following a poll of 72 national and regional banks in the United States...

20.02.2006 Bank of Russia unveils new standard for IT security
The Bank of Russia has approved a new version of the standard act “Information Security of Organizations of the Banking System of the Russian Federation". For the time being the act is of an advisory nature for Russian lending organizations...

17.02.2006 PCAOB approves Auditing Standard No. 4
The PCAOB has approved an auditing standard concerning audit reports in cases when a previously reported material weakness continues to exist...

17.02.2006 Reassessing the dangers of lost data tapes
Companies often lose magnetic tapes with confidential information. But just what are the chances of that information causing anyone any harm? Information security experts at InfoWatch believe the chances of that data being used for illegal purposes are about the same as the chances of winning the lottery or being struck by lightening...

15.02.2006 U.S. lawmakers unite to combat online telephone fraud
The state of Washington looks set to adopt a bill outlawing the sale of private cell phone records over the Internet. The bill could serve as a prototype for a federal law to protect private data related to cell phone use...

14.02.2006 Sarbanes-Oxley compliance costing firms $1M for every $1Bln earned
A survey conducted by AMR has revealed that companies are spending $1 million for every billion dollars in revenues in order to comply with the Sarbanes-Oxley Act...

10.02.2006 State of Colorado clamps down on private data leaks
A bill put forward for consideration in the U.S. state of Colorado sets out tough new regulations for database operators in the event of a leak. Companies would be required to inform victims either in letter or electronic form, or even via state-wide media in the case of a major leak...

09.02.2006 U.S. war on sales of private telephone data widens
The third largest mobile telephone operator in the U.S., Sprint Nextel, has filed a lawsuit against All Star Investigations alleging that the firm fraudulently accesses and sells private telephone records on its sites detectivesusa.com, miamiprotection.com and privatedectivesusa.com.

08.02.2006 AT&T faces $100,000 fine for mislaid privacy report
The U.S. Federal Communications Commission has proposed fining AT&T Inc. $100,000 for failing to file an annual report detailing its compliance with the FCC's customer privacy-protection rules.

08.02.2006 Sarbanes-Oxley's section 404 costing firms 20 times more than expected
Section 404 of the Sarbanes-Oxley Act has resulted in unforeseen difficulties and excessive costs for companies, according to a member of the U.S. Securities and Exchange Commission. He said companies are paying 20 times more than expected to comply with section 404. According to InfoWatch, the effects of the Sarbanes-Oxley Act are unlikely to ease for the next 2-3 years at least.

02.02.2006 U.S. firms selling private telephone data face legal onslaught
The U.S. judicial system has demonstrated its effectiveness after a court blocked the work of 1st Source Information Specialists, which faces a series of lawsuits for selling the telephone records of Americans over the Internet...