|
Optimizing Public Company
Compliance
Enterprise Risk Management that leverages global
companies regulations and reduces initial and on-going
compliance costs.
WGA's team of experts are individuals with Big 4
risk consulting backgrounds and cross-industry hands-on
experience. Our professionals work with you to evaluate
your company's compliance requirements, design and
implement a regulatory compliance program that
utilizes technology solutions to successfully monitor,
review, report, and detect weaknesses.
Japan's Financial Instruments and Exchange Law
J-SOX, Japan's response to the Livedoor, Murakami
Fund and Kanebo corporate scandals, the Internal Control
Committee of the Business Accounting Council of the
Japanese Financial Services Agency enacted strong rules
for the use of Internal Controls over Financial
Reporting (ICFR). This guidance provides details to
Japanese companies on how to implement a Management
Assessment of Internal Control over Financial Reporting
as required under the Financial Instruments and Exchange
Law. J-SOX became effective in April of 2008 for 3,800
companies listed in Japan, along with foreign
subsidiaries. Leveraging WGA's deep SOX and years of
financial and IT assurance/audit experience, WGA
delivers J-SOX sustainment and readiness services to our
clients (usually by 30-50%) less than our competitors.
Corporate Law Economic Reform Program (Audit Reform &
Corporate Disclosure) Act (CLERP 9)
Enacted in July 2004, the Australian government issued
guidance to Australia listed public companies regarding
the strengthen of corporate disclosure and financial
reporting. CLERP 9 formed three government organizations
1) the Financial Report Council oversees audit and
accounting standards 2) the ASX Corporate Governance
Council to oversee corporate governance best practices
3) The Shareholders and Investors Advisory council to
address retail investor concerns. The Financial
Reporting Council has released audit guidance known as
Principle 7 which mirrors the PCAOB's Audit Standard 5
guidance in most material aspects. Principle 7
represents a unique and challenging opportunity for ASX
listed companies. WGA's global regulatory experience and
CLERP 9 and Principle 7 sustainment and readiness
services can ensure your firm is ready and able to
comply quickly.
Bill 198 - Keeping the Promise of a Strong Economy Act
(Budget Measures) or 2002, Chapter 22 Statues of Ontario
2002, and the Multilateral Instrument Policy MI 52-109
Effective June 2006, the Provincial Government of
Ontario, Canada and the Canadian Securities
Administrators (CSA), introduced budgetary legislation,
government operations, and corporate disclosure measures
as well as other SOX type requirements for government
entities and Canadian listed companies. The CSA
continues to issue guidance to instruct organizations
and auditors related to ICFR and governance
requirements. These constant improvements are often
difficult for Canadian firms to understand and address
quickly. Let WGA help guide you through these rough
waters and chart a course that keep your firm ahead of
the CSA curve. WGA's sustainment and readiness services
for Bill 198 and Policy 52-109 can help your company
achieve uncommon compliance results.
Sarbanes-Oxley (SOX) Regulatory Compliance
Six
Sigma. ITIL. COSO. CoBiT. In the tradition of the
continuous improvement these frameworks champion, and from
experience and lessons learned with Fortune 500 clients in
all stages of Sarbanes-Oxley compliance, WGA has
developed unique industry-tailored 404 Readiness Service
Methodology which delivers SOX readiness “just right”. We
call it SOXjrSM. The SOXjrSM
Readiness Delivery Method dramatically reduces the number of
control activities, implementation timelines, and costs
(usually by 30% or more) associated with initial
implementation and sustainment of 404 compliance.
SOXjrSM provides for the top-down, risk-based
approach the PCAOB recommends, while focusing on the review
and control of all aspects of the financial reporting and
disclosure process as outlined in Audit Standard #5 and
ensuing guidance. The result is a custom solution, tailored
for each individual client.
Privacy Regulatory Compliance
State
laws such as SB 1386 have prompted many companies to
report security lapses that may have otherwise gone
unreported. The sheer magnitude of these breaches has
prompted other states and the federal government to pass
similar laws. The cost of notifying thousands of
customers of a security breach can easily reach hundreds
of thousands, even millions of dollars. Many companies
would not and could not operate without insurance to
protect the organization from unexpected catastrophic
loss. WGA can help protect your company’s future –
today.
How WGA Can Help
As former executives,
WGA's core practice team members were responsible for
global regulatory compliance requirements at
global
financial institutions, telecommunications
firms, and other organizations where ICFR and
security were paramount. We will
assess the current environment, identify
potential weaknesses, and assist you addressing
any areas of concern.
Whether you’d like independent verification of the
effectiveness of your current compliance efforts
or you need a framework developed specifically for your
organization, you can trust WGA to provide you with the
expertise you need to protect your most valuable information
assets.
To find
out more about WGA's work
in this capability area, please
contact the practice.
|
|
|
|
Perspectives |
|
Mark
Partner
WGA Texas |
 |
|
"J-SOX, SOX, Policy 52-109, Bill 198, and
CLERP9/Principle 7
continue to represent unique challenges for
clients around
the world.
Top-Performing organizations leverage the
efficiency benefits of
compliance to maximize
shareholder value."
|
|
.png)
