February 22, 2006
PCAOB Roundtable Announced for May 10, 2006
We had a chance to attend the last roundtable and the posturing by the various interest groups was significant. The May 10th meeting will generally pit the auditors against the world. It would be advantageous for all to get more input from investors to determine if their confidence in the North American markets has improved as a result of SOX and the Section 404 efforts.
In particular, will the cost of capital for SEC filers decrease over time relative to filers in foreign markets. That is the bottom line when assessing the cost/benefit for all stakeholders.
Posted by Charley Best February 22, 2006 10:04am
An excerpt from the release is here:
Commission and PCAOB Announce Roundtable on Internal Control Reporting Requirements
FOR IMMEDIATE RELEASE2006-22
Washington, D.C., Feb. 16, 2006 — The Securities and Exchange Commission and the Public Company Accounting Oversight Board announced today that they will sponsor a roundtable May 10, 2006, at the Commission’s headquarters in Washington, D.C., to discuss second-year experiences with the reporting and auditing requirements of the Sarbanes-Oxley Act of 2002 related to companies’ internal control over financial reporting. The roundtable discussion will include issuers, auditors, investors and other interested parties.
“Last spring’s informative roundtable resulted in valuable guidance,” said SEC Chairman Christopher Cox. “We look forward to an update on compliance efforts after year two. I’m pleased that the PCAOB is coordinating this year’s roundtable with the SEC. We will carefully consider the facts presented to help develop policies to effectively and efficiently improve the reliability of financial statements for the benefit of investors.” For the complete news release, click here.
If your company needs assistance cutting cost and improving your Section 404 or MI-52-111 project, see www.issuescentral.com to learn more about the Compliance Playbook. If you are based in Canada, see www.compliancepartner.ca to learn more about Compliance Partner.
In particular, will the cost of capital for SEC filers decrease over time relative to filers in foreign markets. That is the bottom line when assessing the cost/benefit for all stakeholders.
Posted by Charley Best February 22, 2006 10:04am
An excerpt from the release is here:
Commission and PCAOB Announce Roundtable on Internal Control Reporting Requirements
FOR IMMEDIATE RELEASE2006-22
Washington, D.C., Feb. 16, 2006 — The Securities and Exchange Commission and the Public Company Accounting Oversight Board announced today that they will sponsor a roundtable May 10, 2006, at the Commission’s headquarters in Washington, D.C., to discuss second-year experiences with the reporting and auditing requirements of the Sarbanes-Oxley Act of 2002 related to companies’ internal control over financial reporting. The roundtable discussion will include issuers, auditors, investors and other interested parties.
“Last spring’s informative roundtable resulted in valuable guidance,” said SEC Chairman Christopher Cox. “We look forward to an update on compliance efforts after year two. I’m pleased that the PCAOB is coordinating this year’s roundtable with the SEC. We will carefully consider the facts presented to help develop policies to effectively and efficiently improve the reliability of financial statements for the benefit of investors.” For the complete news release, click here.
If your company needs assistance cutting cost and improving your Section 404 or MI-52-111 project, see www.issuescentral.com to learn more about the Compliance Playbook. If you are based in Canada, see www.compliancepartner.ca to learn more about Compliance Partner.
