Archives
_________::::____#79 - December 02, 2005_________________
Updated:  12/02/05 10:36 a.m.

12/02/05 Researcher: SOX Matters to Investors - Investors punish firms that
disclose internal control weakness as required by Sarbanes-Oxley provisions, but
having a Big Four auditor mitigates the negative price hit, according to new
research out of Indiana University.

12/02/05 Four indicted in mortgage fraud - The first four people to be prosecuted
under Georgia’s new Residential Mortgage Fraud Act were indicted this week by a
Gwinnett County grand jury.

12/01/05 Couple Charged With Tax Fraud Stemming From Embezzlement - A
Baldwin, Long Island, couple have been charged with evading New York State
income tax stemming from their alleged roles in embezzling nearly $500,000 from
the Morning Star Missionary Baptist Church in Jamaica, Queens.

12/01/05 Ten people indicted on bank fraud charges - Ten people, including at
least three who worked for a major Boston-area bank, were indicted Thursday on
charges that they stole bank customers' account information and used it to create
and cash counterfeit checks in excess of $1 million.

12/01/05 Black pleads not guilty - Toppled media tycoon Conrad Black pleaded not
guilty on Thursday to charges he defrauded shareholders of newspaper publisher
Hollinger International Inc. by siphoning $84 million in fees from asset sales and
misusing company perks.

12/01/05 PCAOB Optimistic on Future Implementation - The Public Company
Accounting Oversight Board issued a report saying that while the initial
implementation of Sarbanes-Oxley and, specifically, Section 404, has not been
without its challenges, the board is confident the process will be easier in the
future.

12/01/05 Corporate Crime Increases - A new survey also finds that the most
common way company officials detect fraud is "by accident."

12/01/05 SOX Costs to Exceed $6 Billion in 2006 - Companies will spend $6 billion
on complying with Sarbanes-Oxley Act requirements in 2006, on par with the $6.1
billion that will be spent in 2005. These findings are based on a recent study
conducted by AMR Research in which over 300 business and IT leaders were
surveyed on their Sarbanes-Oxley and broad compliance spending priorities.
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