compliance (106)

New companies with a market capitalization under USD 1 billion will now be able to opt-out of regulations within section 404 of the Sarbanes-Oxley (SOX) Act for the first ten years after going public. This option was previously available to companies under USD 75 million.

 

Congressman Ben Quayle introduced the Startup Expansion and Investment Act to, “make it easier for emerging companies to access the capital necessary to expand and create jobs”. Quayle noted that removing one of the many regula

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Takeaways from EGRC Magic Quadrant

Recently, Gartner released its 2011 Magic Quadrant for enterprise governance, risk, and compliance (eGRC) software.  While the report highlights the top vendors of eGRC, which includes LogicManager, it also identifies some revealing trends within the eGRC marketplace based on reliable consumer feedback.  The most notable trend recognized is the shift towards enterprise risk management (ERM) software by eGRC programs.  As Gartner states,

"ERM has emerged as the most significant use of EGRC platfor

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No company falls out of compliance over-night.  It’s a gradual process resulting from a combination of overlooked issues, that together create a serious problem.  Strangely enough, compliance issues often result from taking an overly compliance-focused approach to risk management; a common problem for Governance, Risk, and Compliance (GRC) programs.

Take for example J&J who, after a series of product recalls in 2009, has once again fallen out of compliance and now faces a permanent FDA injunction

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The economic crisis of the last few years has forced a renewed focus on the process of risk identification, management and mitigation at corporations across North America. Executives are taking a much closer look at their strategic risk management channels in order to formulate a more rigorous and effective Enterprise Risk Management programs. The interaction between executive management, the board of directors and company shareholders has presented numerous challenges and opportunities in the m

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A company was fined a heavy penalty the other day for a a workplace accident that was caused by the company managers condoning illegal actions, because that is the "way we have always done it in the
past".

In this case an unlicensed driver of a forklift caused an accident.

The company decided to plead guilty being negligent in terms of the Occupational Health & Safety Act, expecting a thousand rand (ZAR) fine, but thecourt decided a fine of R10000 would be more appropriate. The judge's words: " Do
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In the automotive dealership space I have seen acquisitions turn into legal tribulations when after a deal is closed personnel related non-compliance issues pop-up creating huge, multi-million dollar headaches literally days after deal close.

What was found was a fundamental disregard for the human element in the valuation of a business...what have the people been up to that reinforces the business processes that helped make the business successful as well as what they have been doing on their ow
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