Ever since the passage of the Sarbanes-Oxley Act of 2002 (SOX), the concept of internal control over financial reporting has taken on a new meaning. The U.S. Congress passed this legislation in part because of the failure of certain large companies, notably Enron and WorldCom, which met their demise in part because of real or perceived weaknesses in company internal control and less than adequate corporate governance. SOX reinforces the concept that company management is responsible for establishing and maintaining an adequate internal control structure and robust procedures for financial reporting.
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Tags:
Corporate Governance,
Business & Legal,
SEC,
Accounting & Tax,
Accountants,
JOBS Act,
SOX,
Internal Control
The Foreign Corrupt Practices Act (FCPA) of 1977 prohibits U.S. companies from making bribes or other “corrupt payments” to foreign officials for the purpose of obtaining or retaining business. Concerns that this U.S. attempt to mediate its companies’ overseas activities might prove quixotic—and potentially disadvantaging—to American competitiveness have abated (although not disappeared) since the Organization for Economic Cooperation and Development (OECD) promulgated its “Convention on Combating Bribery of Foreign Public Officials in International Business Transactions.” As of November 2012 the OECD Convention has been ratified by all 34 OECD member countries, and five others as well.
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Corporate Governance,
Business & Legal,
SEC,
Employer Best Practices,
International
Domestic violence is a widespread problem with serious consequences for the victims, their families and their workplaces as well. In 2005 a national telephone survey by the Corporate Alliance to End Partner Violence found that 44% of the employed U.S. adults surveyed reported having personally experienced the effects of domestic violence in their workplace, and 21% identified themselves as victims. The same survey reported that 38% of respondents were “somewhat” to “extremely” concerned for their own safety when they learned that one of their co-workers was being victimized.
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Tags:
Business & Legal,
Employer Best Practices,
Health & Safety,
OSHA,
Employee Rights,
Workplace violence
Accountants in the United States are in demand once again. There are specific needs at the Financial Accounting Standards Board (FASB) and the U.S. Securities and Exchange Commission (SEC). Separately, the skills and talents of those CPAs that practice in the “income tax world” will be helpful to address scheduled individual income-related issues as year-end looms.
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Business & Legal,
SEC,
Accounting & Tax,
Accountants,
GAAP,
IFRS,
Decision on IFRS
Recent storms on the US east coast have once again highlighted the importance of having at least some understanding of insurance law, in particular the procedures for making an insurance claim in the aftermath of a catastrophic event.
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Tags:
Business & Legal,
Insurance,
Insurance Claims
The presence of “hazardous” materials in your workplace can trigger a wide variety of environmental health and safety requirements and hazardous waste regulations. The Occupational Safety and Health Administration (OSHA) and state worker protection agencies issue standards to protect workers during occupational handling and storage. The US Environmental Protection Agency (EPA) and state environmental agencies issue requirements governing the management of hazardous wastes, and emissions to a variety of environmental media (air, water and land).
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Employer Best Practices,
Health & Safety,
OSHA,
Employee Rights,
Environmental risks,
Environmental,
EPA,
Hazcom
I am not a historian. My recollection of the massacre in Tiananmen Square is colored by teenage self-centeredness and the ramblings of a slightly ridiculous history teacher who I managed to ignore for nine months whilst acing the class. I am not proud of this.
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Tags:
Corporate Governance,
Business & Legal,
International,
Internet,
Intellectual Property
Do you know what happened to any paints, coatings and surface preparation materials left over after the last project at your facility?
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Tags:
Business & Legal,
Audit Standards,
Health & Safety,
California Legislation,
Environmental risks,
Environmental,
Hazcom
Insurance Law is often complex and the consequences for insurers, and reinsurers, of not fully understanding the agreements they enter into can be costly. As the following case illustrates, failure to read and understand a contract between two equal parties is no excuse.
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If you can’t say anything nice, don’t say anything at all. Not on Facebook. No, not on Twitter either. Just don't say it. Or, does it depend on context?
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Tags:
Employer Best Practices,
Employee Rights,
Internet
