This invaluable resource for managers provides a detailed look at US SOX Sections 401a, 404, 406, and 409 and then discusses the impact of SOX on small and foreign filers, privately-held businesses and non profits. It follows this with an overview of SOX-like legislation coming to US federal agencies, Australia, Canada, and the UK. Also included is a discussion of efforts to improve internal controls in the following industries: health (US HIPPA), banking (GLB and Basil II), and insurance (Solvency II). The movement to create principles-based guidelines by the OECD and a global GAAP by the IFRS will be compared to US SOX and US GAAP. The impact on outsourcing will include an explanation of SAS 70 audit process. Best practices in internal controls are also included, accompanied by several case studies. Finally a cost versus benefits analysis is provided.
Book Details:
- Author: Anthony Tarantino
- ISBN: 9780470036136
- Year Published: 2006
- Pages: 336
- BISAC: BUS001040, BUSINESS & ECONOMICS/Accounting / Managerial
About the Book and Topic:
This invaluable resource for managers provides a detailed look at US SOX Sections 401a, 404, 406, and 409 and then discusses the impact of SOX on small and foreign filers, privately-held businesses and non profits. It follows this with an overview of SOX-like legislation coming to US federal agencies, Australia, Canada, and the UK. Also included is a discussion of efforts to improve internal controls in the following industries: health (US HIPPA), banking (GLB and Basil II), and insurance (Solvency II). The movement to create principles-based guidelines by the OECD and a global GAAP by the IFRS will be compared to US SOX and US GAAP. The impact on outsourcing will include an explanation of SAS 70 audit process. Best practices in internal controls are also included, accompanied by several case studies. Finally a cost versus benefits analysis is provided.
Todays managers face a growing challenge and dilemma in the global thrust to improve governance and compliance, which at its core requires robust internal controls. The dilemma comes in how to comply in a manner that does not punish operational efficiencies and competitiveness. This will be true for both privately and publicly held companies throughout the globe, and even for non-profit institutions. While the US Sarbanes-Oxley Act (SOX) has received the lions share of attention, there are initiatives underway in virtually every global region and industry to improve transparency in financial reporting. There are also initiatives down to the US State level (Californias AB 1386 protects individual identities) and at government agency level (US OMBs A-128 applies SOX to federal agencies) that will become role models that are bound to spread to other US states, local government agencies, and internationally.
Timely, Useful Resource: New Guidebook gives managers all of the compliance regulatory information they need in easy-to-access format. Global Marketplace: Includes U.S. and Global key regulatory guidance. Practical Approach! Best Practices and Case Studies are included to provide benchmarks and real world guidance. Strong Author Platform: Author is senior manager at BearingPoint (the consulting spin-off of KPMG) and co-leads their global compliance practice.
About the Author
Anthony G. Tarantino, Ph.D., CPM, (Mountain View, CA) has thirty years of business management experience, is the author of over a dozen published articles and white papers on compliance, as well as a frequent speaker to professional associations. He held a CPM and CPIM designation for 20 years and has been an adjunct professor of business management. He has led over a dozen compliance initiatives including designing and implementing compliance software tools, leading internal audit, conducting 404 readiness, and implementing internal controls best practices for US, European, and Asian companies.