A former employee of Nortel Networks Corp. said yesterday the company deliberately manipulated its sales numbers to improve results in 1999 and 2000, including recording about $900-million (U.S.) of revenue for optical equipment that it hadn't yet built...
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Life insurance companies will have to change how they operate as a result of investigations into insurance industry practices under way in the United States and Canada, the chief executive officer of Sun Life Financial Inc. said yesterday...
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Nov. 15, 2004--NEW YORK--(BUSINESS WIRE)--A survey of corporate boards released today by RHR International and Directorship reveals annual Sarbanes-Oxley compliance costs average $16 million--a jump of 77 percent from last year. Findings of the first annual Directorship/RHR International Board Survey also reveal that nearly half (47 percent) of companies surveyed do not have a CEO successor in place, although 61 percent expect that CEO leadership transition will go smoothly, according to the poll of almost 270 board directors at U.S. companies.
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November 17, 2004- Asset managers must focus not only on recently passed rules and regulations, such as Sarbanes-Oxley, Anti Money-Laundering, and the U.S. Patriot Act, but on pending legislation as well. For now and the immediate future, compliance is going to be a dominant issue in the financial services community.
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Consideration of existing IT control frameworks can help put companies on the right track toward compliance. February 2004 issue of IT Audit.
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A recent Aberdeen report says that most value chain executives, from a mix of public and private companies polled, state that their companies are incorporating new financial reporting requirements from SOX into ...
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