Navi Mumbai, Maharashtra India (PressExposure) July 10, 2007 -- Bharat Book Bureau, a leading market information aggregator has put forth a report - Sarbanes-Oxley:A Practical Guide to Implementation Challenges and Global Response ([http://www.bharatbook.com/detail.asp?id=9603])
An accessible and highly practical guide to the problems faced when complying with the expensive SOX regulations - enacted by the SEC and PCAOB - to implement the Sarbanes-Oxley Act. You will benefit from in-depth guidance derived from the pain points in hundreds of SOX implementation projects.
Summary SOX, the law, generally is practical and makes sense. However the rules used to implement the law are a primary source of the confusion and massive costs.
This report exposes the range of flaws in the current U.S. SOX regulatory regime and proposes cost effective and practical ideas to help the U.S. and other countries achieve the fundamental aim of more reliable financial statements and more reliable external audit opinions at a lower overall cost.
Illustrates global reactions to date from the U.S., UK, Canada Europe and elsewhere.
Reviews sections 302 and 404 â management accountability and responsibility for reliable financial disclosures â and discusses the massive problems that have emerged from the rules costing companies and shareholders in the tens of billions of dollars.
Provides essential coverage of core issues in a concise and time-saving format â easy to read, easy to navigate and written to aid key decision makers.
Ideal reading for corporate executives, CEOs and CFOs; accounting, audit, and legal professionals; financial risk managers; industry research firms and consultants; SOX-regulated companies; universities and regulators in any country thinking of emulating or rejecting the current version of the SARBANES-OXLEY EXPERIMENT.
The authors bring a unique combination of corporate management, academia, audit, forensic accountant and ERM expertise to create a globally relevant view on the subject matter.
Demonstrates how a set of rules intended to cost companies less than $100,000 each has resulted in an annuity stream of expenses that will end up costing U.S. listed companies millions each year in compliance.
Provides historical context and coverage of events that led to the most controversial regulatory regime in the world history of securities regulation.
Covers the implications of IT systems on the fundamental goal of reliable external disclosures.
Tackles the thorny area companies face of identifying, grading and reporting on control deficiencies that could theoretically result in material misstatements.
Assesses the progress of companies in the politically difficult areas of assessing the current effectiveness of macro level anti-fraud controls and the performance of audit committees.