Compliance Guidebook: Sarbanes-Oxley, COSO ERM, IFRS, BASEL II, OMBs A-123, Best Practices, and Case Studies
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Compliance requirements are here to stay. Prepare your company for the growing challenge. A Wall Street Journal/Harris poll revealed that two thirds of investors express doubts in the ability of corporate boards of directors to provide effective oversight. In the shadow of recent global scandals involving businesses such as Parmalat and WorldCom, Manager's Guide to Compliance: Best Practices and Case Studies is essential reading for you, whether your organization is a major corporation or a small business. This timely handbook places U.S. and global regulatory information, as well as critical compliance guidance, in an easy-to-access format and helps you make sense of all the complex issues connected with fraud and compliance. "Wide perspectives and best practices combined deliver a punch that will knock your 'SOX' off! The author has blended together a critical mix necessary for effectively handling the requirements of SOX." —Rob Nance, Publisher, AccountingWEB, Inc. "Robust compliance and corporate governance is an absolute necessity in today's business environment. This new book by Anthony Tarantino is an authoritative guide to understanding and implementing compliance and regulatory requirements in the United States and around the world. From SOX to COSO to ERM, this book covers them all." —Martin T. Biegelman, Certified Fraud Examiner, Fellow and Regent Emeritus of the Association of Certified Fraud Examiners, and coauthor of Executive Roadmap to Fraud Prevention and Internal Control: Creating a Culture of Compliance "If compliance wasn't difficult enough, now companies are faced with a barrage oftechnology vendors claiming to automate compliance as if it were a project. In his new book, Dr. Tarantino paints the reality of the situation: companies need to embrace the broader tenets of governance and use technology to embed governance policies and controls into their daily business processes. Only then can they gain business value from their compliance investments." —Chris Capdevila, CEO and cofounder, LogicalApps
PrefaceXIAcknowledgmentXVIIChapter 1U.S. SOX Section 401: Off-Balance Sheet Arrangements1Chapter 2U.S. SOX Section 404: Internal Controls21Chapter 3U.S. SOX Section 406: Code of Ethics32Chapter 4U.S. SOX Section 409: Real-Time Reporting of Material Changes35Chapter 5U.S. SOX Impact on Privately Held Companies and Nonprofits39Chapter 6U.S. SOX Impact on Small U.S. Companies44Chapter 7U.S. SOX Impact on Foreign Companies49Chapter 8U.S. Government's Version of U.S. SOX: OMB Circular A-12353Chapter 9U.S. Healthcare Efforts to Improve Internal Controls: U.S. HIPAA69Chapter 10Bankers' and Insurers' Efforts to Improve Internal Controls71Chapter 11Australia, Canada, and UK Efforts to Improve Internal Controls79Chapter 12EU Efforts to Improve Internal Controls: OECD Principles91Chapter 13Global GAAP (IFRS) and Global Reporting Language (XBRL)96Chapter 14Compliance and Internal Controls Impact on Outsourcing106Chapter 15Civil and Criminal Penalties for Noncompliance108Chapter 16Business Penalties for Noncompliance: A Material Weakness121Chapter 17Revenue Recognition Requirements: U.S. SAB 101 and 104125Chapter 18Data Retention Requirements135Chapter 19Compliance and Internal Control Software139Chapter 20Auditing Internal Controls147Chapter 21Best Practices in Internal Controls: Enterprise Risk Management178Chapter 22Best Practices in Internal Controls: IT Risk Management & SDLC (NIST 800-30)185Chapter 23Best Practices in Internal Controls: Mapping COBIT to COSO I, COSO II, & PCAOB190Chapter 24Best Practices in Internal Controls: COBIT IT Control Objectives194Chapter 25Best Practices in Compliance and Internal Controls: ASX 10 Principles200Chapter 26Best Practices in Internal Controls: Segregation of Duties (SOD)228Chapter 27Best Practices in Internal Controls: Case Studies242Chapter 28Best Practices in Compliance Project Management254Chapter 29Best Practices in Governance and Ethics261Chapter 30Costs versus Benefits and the Business Reaction266Appendix AFrequently Asked P2P Questions278Appendix BLinks to Referenced Organizations and Documents290Glossary292Index304
