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Follow on Google News | What does Sarbanes-Oxley, Dodd-Frank and Hedging FOREX (derivatives) in a recessionary economy haveThe topic aims to address and compare the requirements of SOX against the Dodd-Frank legislation and contrast how they differ clearly in purpose and objectives. The perception is that they are similar and overlap whereas on the contrary they
By: Compliance2go Areas Covered in the Session: Sarbanes-Oxley Dodd-Frank Legislation Foreign Exchange management Risk Management Board of Directors Why should you attend: The subject of risk compliance and 'are you prepared' is being discussed far more frequently (using platforms like webinars and white-paper downloads) than a few years ago and especially prior to the mortgage crisis and the subsequent global economic meltdown. Sarbanes-Oxley (SOX) evolved towards attempting to create an internal control structure that would effectively protect the issuance of financial statements from major miss-statements and economic misrepresentation. SOX was never really intended to cover the operational risk-factors of an entity and whether sub-units within an organization (making sub-optimal decisions and/or ignoring the emergence of negative factors impacting other areas) which, if unchecked, could ripple across and potentially bring down the entity and (in the case of financial services) create global macro-economic repercussions. The identification of where within an entity risk factors exist (requiring a need to define) and then creating benchmarks or indicators that can forewarn that action is needed becomes critical to damage prevention. These concepts are imbedded within the Dodd-Frank approach vis-à-vis, risk committees and appointment of qualified individuals capable of overseeing all risk considerations and monitoring corrective action if needed. Though D-F (extremely detailed and complex) may naturally be directed towards financial services, any organization needs to adopt a similar approach if it is to prevent and mitigate uncontrolled and unidentified risks creeping into the entity. Many entities continue to operate in a silo mentally and that along with politics and a lack of a board-level corporate overseer is part and parcel of why risk compliance and risk management are so crucial today as organisations and the economy attempt to recover. The status quo clearly demonstrated serious short-falls in risk management and board-level oversight of operations and given the severity of the current recession, e.g., high unemployment/ Who will benefit: (Titles) CFO Controllers Assistant Controllers Auditors (external and internal) Treasury staff Board Members CEO Risk Compliance Officers About Speaker Peter Welch, CEO and founder of Sox International Inc., is a senior global financial accounting consultant, a highly experienced educational/ South Africa. His 30 years of experience spans assisting organizations with multibillion dollar budgets to small startups, implementing changes to financial systems including PPP, public, private and NFP organizations. CCFOSox is the premier U.S. provider for educational services towards the adoption and implementation of IFRS. CCFOSox also specializes in CFO Rental services, Econometric modeling/5-Year Business Plans, FASB Codification and documentation issues, IFRS Taxonomy / XBRL technology, financial report processes, and process reengineering/ The Private Company Standards Subcommittee and Program Subcommittee. Recently he has launched a LinkedIn group, ‘IFRS Implementations’ End
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