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Corporate & Securities Law
: inside Sarbanes OxleySegregation of Duties Whitepaper: Minimizing the Cost and Complexity of Sarbanes-Oxley Compliance
By Toby Lucich
Corporate and IT executives continue to feel the pressures of assuring
federal regulators, auditors, boards of directors, and stockholders that
corporate financial statements are accurate and precise. Additionally, they
must ensure that the personnel responsible for working with financial
information don't have inherent conflicts of interest. A critical element of
Sarbanes-Oxley compliance, known as avoiding Segregation of Duties conflicts
(SOD conflicts), will continue being a top concern. Furthermore, manual
management of SOD conflicts creates too high a risk ? especially for global
businesses where hundreds of individuals are managing literally tens of
thousands of financial functions.
Full post as published by inside Sarbanes Oxley on April 16, 2008 (boomark / email).
Grubb & Ellis
alleging violations of fiduciary duties to shareholders and securities laws.
Lehman Brothers
allegedly breached ERISA duties for employee savings plan participants.
Mutual Fund Losses
alleging financial advisors breached fiduciary duties by not looking out for investors best interests.
Medical Errors
Annual Cost to Insurers Nearly $1.5 Billion
Antitrust
Price Fixing Could Cost Consumers up to $300 Billion Annually
Timberland
Unsolicited Text Messages Cost Company $7 Million

But Sarbanes-Oxley hasnt actually reduced fraud
Intellectual Property and Sarbanes-Oxley
Sarbanes-Oxley Compliance Costs Decline
SEC Staff Begins Small Business Cost-Benefit Study on SOX 404 Compliance







