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Monday, November 21, 2005
FEI Benchmarks Sarbanes-Oxley Compliance Best Practices
Nov. 21, 2005 (SmartPros) — Financial Executives Research Foundation (FERF), the research affiliate of Financial Executives International (FEI), released two new reports on Sarbanes-Oxley compliance and Management's Reports on Internal Controls.
"This research provides helpful insight into best practices for Sarbanes-Oxley and we are excited to publish this," said Colleen Cunningham, President and CEO of FEI and FERF. "With the bulk of Section 404 implementation in place at many companies, we believe this is an important time to assess the progress made, and to look ahead at helpful business lessons we can apply to the future. The report identifies best practices for companies in 2006 and beyond."
"Sarbanes-Oxley Section 404 Compliance - From Project to Sustainability" summarizes the compliance practices of leading companies and describes how they are improving their processes in the second year of compliance as they strive toward long-term sustainability. FERF produced this report with Dr. Robert A. Howell, Distinguished Visiting Professor of Business Administration at Dartmouth's Tuck School of Business.
The report is the result of Section 404 implementation leaders from some of the nation's largest companies gathering to share their experiences with Section 404. This discussion, arranged by FEI, found that most participants agreed the time and expense of compliance was not sustainable, and that they would have to look for and implement process improvements.
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