September 13, 2006
Product Eases SOX 404 and MI 52-109 compliance for Mining Companies - Can You Dig It!
Normally I like to wax poetic about the world of internal controls over financial reporting (ICFR). Haikus, sonnets, compliance limericks, that sort of thing. However, I must "refrain" for this blog entry.
The boss told me to toot our own horn on an important announcement to reduce the cost of internal control over financial reporting(ICFR) for mining companies that need to comply with either SOX 404 or the ICFR portion of MI 52-109 (for TSX and TSX-Venture based miners).
The Compliance Playbook(TM) - Mining Edition was announced by Issues Central, Inc. yesterday (www.issuescentral.com).
From the press release:
"The Compliance Playbook™ - Mining Edition is the first software-based financial compliance product dedicated to the mining sector and comes complete with over 100+ industry-specific compliance templates ranging from Reserve Valuation, Mining AFEs, Asset Impairment, Mining AROs, Mineral Claims and Production through to Financial Close as well as Entity Level Controls. The product offers a “start-to-certification” approach that covers all aspects of an ICFR project including planning, top down risk-based scoping, entity-level controls, process-level controls, testing and remediation, and ongoing compliance beyond year one.
Important features include:
The boss told me to toot our own horn on an important announcement to reduce the cost of internal control over financial reporting(ICFR) for mining companies that need to comply with either SOX 404 or the ICFR portion of MI 52-109 (for TSX and TSX-Venture based miners).
The Compliance Playbook(TM) - Mining Edition was announced by Issues Central, Inc. yesterday (www.issuescentral.com).
From the press release:
"The Compliance Playbook™ - Mining Edition is the first software-based financial compliance product dedicated to the mining sector and comes complete with over 100+ industry-specific compliance templates ranging from Reserve Valuation, Mining AFEs, Asset Impairment, Mining AROs, Mineral Claims and Production through to Financial Close as well as Entity Level Controls. The product offers a “start-to-certification” approach that covers all aspects of an ICFR project including planning, top down risk-based scoping, entity-level controls, process-level controls, testing and remediation, and ongoing compliance beyond year one.
Important features include:
- Rapid documentation
- Automatic flowcharting
- Customizable compliance reporting
- Minimal IT investment
The product comes standard with a tight integration with Microsoft® Office including Word, Excel and Visio."
If you are a miner based in the U.S. , or outside North America, and would like more information please call Issues Central at 1.800.410.6681 ext 112 or e-mail: mining@issuescentral.com and provide your name, company and telephone number.
If you are a Canadian-based miner and need to comply with SOX 404, or MI 52-109, please contact Thomson-Carswell, our Canadian distributor, at www.compliancepartner.ca or via e-mail at: carswell.compliancepartner@thomson.com.
