CCBN Survey Finds Internet is Essential Tool for Corporations Communicating Sarbanes-Oxley Act Compliance.
BOSTON--(BUSINESS WIRE)--Sept. 19, 2002
Ninety Five Percent of Corporate Clients Surveyed Utilize CCBN's IR Online Services to Communicate the Certification of Financial Results
CCBN (www.ccbn.com), the leading provider of Internet-based shareholder communications services, today announced the results of a survey conducted to determine how its corporate clients communicated their compliance with the Sarbanes-Oxley Act to investors. The Sarbanes-Oxley Act requires CEOs and CFOs to certify the veracity of company financial reports. The survey results showed that CCBN's IR Online services enabled public corporations to effectively communicate the certification of their financial results with shareholders, helping rebuild investor confidence.
CCBN conducted a survey of more than 200 corporate clients that were required to certify their financial results by August 14th. Of the clients surveyed:
-- 95% leveraged their corporate Web site to communicate compliance of the Sarbanes-Oxley Act. Further, the survey found that companies highlighted compliance in the following sections of their Web site:
- 24% highlighted compliance on their IR Home Page
- 17% highlighted compliance on their New Release Page
- More than 5% highlighted compliance on their Corporate Home Page
-- Although not required by the SEC, 40% of the clients surveyed issued a press release to communicate certification.
"The fact that companies are communicating compliance on their Web site without the requirement of the SEC shows that the Internet has become one of the most important channels for reaching shareholders and the institutional investor community," said Rob Adler, co-founder and president, CCBN. "CCBN has been at the forefront of online shareholder communications since our inception. With the adoption of new, more stringent SEC regulations, CCBN provides the services needed to help public corporations build reliable communication channels with stakeholders."
CCBN provides more than 2,500 corporate clients with a comprehensive resource for delivering and managing online investor relations (IR) and corporate communications, helping companies comply with SEC disclosure requirements. CCBN corporate services include IR Web site hosting, webcasting services and an investor distribution network featuring e-mail alerts and content distribution to leading financial Web sites including MSN Money and Bloomberg.com. For more information or to listen to the archived webcast with survey results please go to http://www.visualwebcaster.com/event.asp?id=7925.
Co-founded in 1997 by Jeffrey P. Parker, creator of First Call, and Robert Adler, CCBN is the global leader in enabling direct communications between public companies and the investment community over the Internet. CCBN builds, manages and hosts the investor relations sections of Web sites for more than 2,500 public companies, providing detailed shareholder information through interactive, multimedia solutions. In addition, CCBN hosts live and archived quarterly conference calls for more than 3,000 corporations each quarter. Through its StreetEvents institutional event management database (www.streetevents.com) and partnerships with leading retail financial portals, CCBN has created a revolutionary investor distribution network that delivers an unprecedented body of direct corporate information to the largest collective audience of institutional and individual investors in online. Headquartered in Boston, MA, CCBN has additional offices in San Francisco and London.
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|Date:||Sep 19, 2002|
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