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Opinions and views from expert CFOZone members.

Tag >> SarbOx
Aug 04
2010

News Corp joins the legions in changing exec incentives

Posted by dbedell in Securities and Exchange CommissionSarbOxRiskNews Corp.Dodd-Frank billclawbacksclawback provisionCareers/Management

dbedell

With News Corp announcing this week a new compensation framework aimed at better-aligning executive incentives with shareholder interest, it once again brings into sharp focus the changing nature of executive compensation in the US—changes being pushed both internally at the board level and from policy-makers.

News Corp, owner of the Wall Street Journal and Dow Jones & Co, has filed with the SEC plans to offer performance-based bonuses in the coming year to executives—including CEO Rupert Murdock, head of European and Asian operations James Murdoch, COO Chase Carey, and CFO David DeVoe

Jun 30
2010

Why the spirit of SarbOx will survive continued attack

Posted by dbedell in SarbOxSarbanes-OxleyRiskPCAOBinternal controlsinternal auditIn compliancecontrol

dbedell

With the Supreme Court ruling to uphold most of SarbOx, and compliance costs decreasing, policymakers and their opponents continue to fight over the relative value of the legislation that first came into effect in 2002. But it may be a non-issue. Even as opponents of SarbOx continued to push for it to be overturned in the run-up to the Supreme Court ruling, it had already become an expected and integral part of the corporate internal audit process.

One lawyer who spoke with CFOZone before the ruling was announced noted that no client has asked him how they could backtrack on controls and other compliance requirements if SarbOx was overturned. Investors now expect that companies will be SarbOx compliant, and in the current environment of compliance conservatism, even if companies could reduce their internal audit requirements under SarbOx, few if any would.

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