Dear Risk and Compliance Management Professional,
Many years after the bankruptcy of Enron, in the middle of a new market crisis, we are still working in risk and compliance management jobs and projects around the world. No, it is not about what is next for firms. It is not about corporate failures. It is about us. What is next for us? What should we do? In the middle of a crisis, we have to be
careful. We have some good news for you. Risk and Compliance Management has become much more important. Sarbanes Oxley knowledge is evidence that you know what organizations need. You understand risks, controls, policies, procedures, accountability, testing, documentation, preparation for audits. After the market crisis, firms have to comply with a more serious interpretation of the Sarbanes Oxley Act. Auditors and Supervisors ask for more. Now, in the new era of re-regulation, where governments and analysts explain that we are seeing the consequences of lax regulation, we have to learn more, we have to do more, and we have to provide evidence about our knowledge. The Sarbanes Oxley Act has become much more important after the Dodd Frank Act. The new US financial regulatory reform, the Dodd Frank Act, amends some sections of the Sarbanes Oxley Act. Sarbanes Oxley is part of the new regulatory reform. They did not delete the Sarbanes Oxley provisions, they have made them more strict and clever. For example, whistleblowers now have a monetary incentive to report matters to the SEC (they may be entitled to as much as 10 percent to 30 percent of the monetary sanctions imposed). Management should clearly explain to all employees the importance of prompt reporting of violations. Public companies should do much more for complaints submitted to audit committees or employee hotlines to address areas of potential concern. The Dodd-Frank Act also provides an employee with remedies against the employer that has violated the whistleblower provisions of the Dodd-Frank Act. These remedies include reinstatement with the same seniority status that the individual would have had, two times the amount of back pay otherwise owed to the individual, with interest, and even compensation for litigation costs, expert witness fees, and reasonable attorneys’ fees. Does it look like the end of Sarbanes Oxley? No, it is Sarbanes Oxley on steroids. Visit our Sarbanes Oxley Speakers Bureau. The Sarbanes Oxley Compliance Professionals Association (SOXCPA) has established the Speakers Bureau for firms and organizations that want to access the Sarbanes Oxley expertise of Certified Sarbanes Oxley Experts (CSOEs), Certified JSOX Experts (CJSOXEs) and Certified EU Sarbanes Oxley Experts (CEUSOEs) - experts of the 8th Company Law Directive of the European Union. The SOXCPA will be the liaison between our certified professionals and these organizations, at no cost. We strongly believe that this can be a great opportunity for both, our certified professionals and the organizers. We will give the details of an event to one or more Sarbanes Oxley experts, who will contact directly the organization requesting services. The Sarbanes Oxley experts will negotiate services and fees. To learn more:
http://www.sarbanes-oxley-association.com/Sarbanes_Oxley_Speakers_Bureau.html
Best Regards,
George Lekatis
President of the Sarbanes Oxley Compliance Professionals Association (SOXCPA)
General Manager, Compliance LLC
1200 G Street NW Suite 800,
Washington DC 20005, USA
Tel: (202) 449-9750
Email: [email protected]
Web: www.sarbanes-oxley-association.com
HQ: 1220 N. Market Street Suite 804,
Wilmington DE 19801, USA
Tel: (302) 342-8828
