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Thread: SEC Notice 057/2006 - ALL organizations MUST have a system of internal control




SEC Notice 057/2006 - ALL organizations MUST have a system of internal control
user name
2006-02-23 13:43:16
  "If you have an important point to make, don't try
to be subtle or clever. Use a pile driver. Hit the point
once. Then come back and hit it again. Then hit it a third
time a tremendous whack." - Winston Churchill. 

"The most important contribution management needs to
make in the 21st century is to increase the productivity of
knowledge work and the knowledge worker". - Peter F.
Drucker.
____________________________________________________________
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1. IT pros seek fine balance of work, life 

Work-life balance should mean more than just making time to
do your duty to your family. Somehow, the notion that people
also need time to recharge, rejuvenate and recreate
themselves in activities that 
are neither work nor family has gotten lost in all the noise
about flex-time, telecommuting and employee assistance
programs. 

www.itworldcanada.com/V.aspx?i=44ca77b2b48f45c2&p=IW&
;s=1504942

2. Sarbanes-Oxley and the Board of Directors: Techniques and
Best Practices for Corporate Governance

Complete with real-world examples, vignettes, case-studies,
and other information, this guide helps board members, CEOs,
CFOs, and others understand their responsibilities and
potential liabilities and implement effective corporate
governance. 

www.acfe.com/shop/ProductDetail.asp?
CatID=100560&Source=FIN_2006_02_22

3. Take 6 Sigma action TODAY! Call 512.918.0280 for FREE
BOOK!

Sponsor Message

Whether you're new to Six Sigma, an executive champion, or
long time practitioner, let Smarter Solutions take your
company beyond Lean Six Sigma and the Balanced Scorecard.

Our approach, Integrated Enterprise Excellence (IEE), shows
you how to develop a data-driven system that pulls projects
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Call 512.918.0280 today for a COMPLIMENTARY BOOK:
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4. George Spafford's twice weekly newsletter.

a) Some excerpts from today's issue is provided below.

- i.e. go to his web site if you want the entire issue. 
b) The archives of the Daily News newsletters are at: 

www.spaffordconsulting.com/dailynews.html 

5. Finally, are you expressing an opinion on internal
control? Check out these three extensive resource
repositories before doing so.

a) http://ww
w.theiia.org/index.cfm?doc_id=5317

b) http://www.theiia.
org/?doc_id=4884

c) http://ww
w.theiia.org/index.cfm?doc_id=5321

Enjoy,

Dan

www.securitybenchmark.com
  http://finance.groups.yahoo.com/group/Dans_SECemails/
http://finance.groups.yahoo.com/group/Dans_CCCemails/
____________________________________________________________
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George Spafford's twice weekly newsletter (excerpts).
____________________________________________________________
______

The Daily News is brought to you by Spafford Global
Consulting, a consultancy focused on IT process improvement,
security and compliance efforts. They are located on the web
at:

http://www.spafford
consultingcom.  

"Facts do not cease to exist because they are 
  ignored." -- Aldous Huxley

The Picks for Today

Financial Stars Urge Regulators To Not Dilute Sarbanes-Oxley

"A group of financial notables has urged regulators to
reject a proposal to exempt thousands of smaller public
companies from Sarbanes-Oxley-imposed rules on internal
controls.  Former Securities and Exchange Chairman Arthur
Levitt and former Federal Reserve Chairman Paul Volcker and
others warn in a Feb. 13 letter that such a rule relaxation
is "misguided" and "simply goes too
far" in addressing the concerns of small
companies."

online.wsj.com/article/SB114049341489878791.html?mod=djemEMU


http
://www.newyorkbusiness.com/news.cms?id=13012 

GPL gets another brickbat--but where does the Sarbanes-Oxley
problem really lie?

"You're probably expecting me to sneer at
Michaelson's paper, but I'm not going to. It's an
excellent essay, in my opinion. It describes a real--though
very limited--problem. In fact, I think a recognition of
this problem may lead to an increase in dual licensing,
which will allay many of the fears expressed in the
paper."

www.onlamp.com/pub/wlg/9232 

[Note, I originally skipped the GPL-SOX articles and labeled
them as hype to steer people away from open source towards
commercial vendors like Microsoft.  I thought this
article's commentary was well done.]

SEC hits 4 KPMG execs with record fines

"Four former and current partners of Big Four
accounting firm KPMG agreed to pay record-setting fines to
settle charges stemming from a 1997-2000 earnings
manipulation scheme at copier maker Xerox Corp., 
U.S. regulators said on Wednesday."

www.washingtonpost.com/wp-
dyn/content/article/2006/02/22/AR2006022201154.html?nav=rss_
business 

IT Process Improvement

The Service Desk Function

Long considered the low-end of the IT staffing spectrum, the
service desk is a vital element in ITIL coordinating
communications and serving as the single point of contact
with customers.  Continuing with our coverage of BECTA,
their Service Desk page offers documentation and guidance as
to their approach for the ITIL Service Desk function.

becta.org.uk/fits/index.cfm?
sect=servdesk&refsect=ntss&bcsect=default 

Liberty Mutual Steps Up Performance With ITSM

"Two years ago, IT administrators at Liberty Mutual
didn't know an application was down until users called to
complain. Today, they're steps ahead, monitoring
applications for slowdowns or abnormal activity -- sometimes
fixing the problem before users even notice anything is
wrong."

www.itsmwatch.com/news/article.php/3583116
_____________________________________________________

			
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