BDO Seidman LLP Urges Clients to View SEC's Delay of New Rules Related to Sarbanes-Oxley 404 as an Opportunity, Not a Reprieve.Business Editors NEW YORK--(BUSINESS WIRE)--June 24, 2003 BDO Seidman BDO Seidman, LLP is the United States arm of BDO International, one of the largest accounting firms outside of the Big Four. History BDO Seidman, LLP was founded as Seidman and Seidman in New York City in 1910 by Maximillian L. Seidman. LLP LLP - Lower Layer Protocol - Risk Consultant Available For Analysis of New SEC Rules - The SEC has been hailed for its recent decision to delay, until June 2004, new rules designed to bring all public companies into compliance with Section 404 of the Sarbanes-Oxley Act See SOX. . The extension beyond the previously proposed deadline of September 2003 is viewed as a more realistic timetable for the implementation of the new rules for internal control requirements and corporate governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. standards. The Risk Consulting and Advisory Services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal practice of BDO Seidman, LLP is advising clients to view the delay in implementing the new rules as an opportunity to properly identify and correct any problems in internal controls. Moreover, implemented appropriately, there are significant opportunities for companies to identify and correct operational business process gaps, thereby reducing costs and increasing productivity. Businesses that become complacent and delay implementation of Sarbanes-Oxley 404 will have a difficult time explaining their failure to meet compliance next year. -- Why do companies need to act immediately, despite the SEC's decision to delay the implementation of the rules? -- How can proactive companies transform 404 compliance from an expense to an investment? -- What is the ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). potential as it relates to cost reduction and productivity gains? -- To what extent can a business use it's external auditor to assist in implementing the rules? -- What type of documentation will be needed and what type of testing will be required to achieve compliance with S-O 404? -- What are the penalties for non-compliance? Anthony Sirica, National Director of BDO BDO Big Day Out (Australian music festival) BDO Banco de Oro (Philippines) BDO 1,4-Butanediol BDO British Darts Organisation BDO Block Development Officer BDO Big Dumb Object Seidman's Risk Consulting and Advisory Services, can answer these and any other questions you may have on this important topic. Mr. Sirica already works with many businesses, ranging from Fortune 1000 corporations to middle market companies, to assist them in reaching 404 compliance. BDO Seidman's approach to compliance - focused on assessment, gap analysis, and testing and monitoring - is designed to break this daunting daunt tr.v. daunt·ed, daunt·ing, daunts To abate the courage of; discourage. See Synonyms at dismay. [Middle English daunten, from Old French danter, from Latin challenge into more manageable tasks for clients. If you would you like to speak with Anthony Sirica, please call Jerry Walsh or Cortney Rhoads at (212) 221-4612. |
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