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SOX Survives Legal Challenges
Legal battle launched in 2006 challenging the constitutionality of SOX has concluded with the Supreme Court upholding SOX and stating that the Act "remains fully operative as a law" -
IIA Proposes New Standards for Internal Auditors
The IIA's Internal Audit Standards Board has recently conducted a comprehensive review of the International Standards for the Professional Practice of Internal Auditing and is proposing changes. -
Majority of Canadian Companies Are Not Yet Prepared for IFRS
With only 7 months remaining, half of public companies are less than 60% through their IFRS conversions -
SEC Approves Enhanced Disclosure Rules for Risk, Compensation and Corporate Governance
Beginning in the upcoming annual reporting and proxy season, the new rules will improve corporate disclosure regarding risk, compensation and corporate governance. -
Bernie Madoff's sons likely to face tax-fraud rap tied to dad's $65 billion swindle
Madoff's sons, who heard their father's confession in December 2008 before turning him in to the feds, will be charged in coming weeks. -
Canadian Fund Manager Ran $60 Million Ponzi Scheme, OSC Says
A Toronto fund manager oversaw a Ponzi scheme that defrauded investors in Canada, the U.S. and China of about $60 million, the Ontario Securities Commission alleged. -
ACFE releases 2010 Report to the Nations
For the first time ever, the Association of Certified Fraud Examiners has widened their study to include cases from countries outside the United States. This expansion allows the ACFE to more fully explore the truly global nature of occupational fraud and abuse. -
IASB proposes improvements to defined benefit pensions accounting
The proposals would amend the accounting for defined benefit plans through which some employers provide long-term employee benefits, such as pensions and post-employment medical care. -
Supreme Court Considers Sarbanes-Oxley Reforms
The Supreme Court heard arguments this week where the Court is expected to address the constitutionality of Congress's creation of the Public Company Accounting Oversight Board through the Sarbanes-Oxley Act of 2002.
