Create an account Home  ·  Topics  ·  Downloads  ·  Your Account  ·  Submit News  ·  Top 10  
Modules
· Home
· Content
· Directory
· Downloads
· FAQ
· Forums
· Search
· Sox_Admin
· Statistics
· Submit News
· Surveys
· Top 10
· Your Account

Sarbox Compliance
The appropriately named Sarbanes-Oxley Compliance Toolkit includes a whole range of materials specifically put together to both introduce, and take you through this most important of legislation.

For detailed information see the toolkit's own website: Sarbanes-Oxley Compliance


SOX Act and Security
As security is such a major theme on the Act, many organizations are using the international ISO standards. The ISO 27001 Portal outlines these. A copy of the standards, and security policies, can be obtained via the ISO 17799 Toolkit.

The SOX email storage requirements can be fulfilled using the GFI MailArchiver


SOX Advertisers


Sarbanes What?
Our server logs indicate some interesting mis-spellings: Sarbannes Oxley, Sorbane Oxley, Sarbanne Oxley, Sarbaines Oxley, Sarbanesoxley, Sorbanes Oxley, Sabanes Oxley, Sarbane Oxley, and Sarbanes Oaxley, to name but a few!

Sarbanes-Oxley Act Forum: Forums

The Sarbanes Oxley Act :: View topic - Canadian SOX requirements
 Forum FAQForum FAQ   SearchSearch   UsergroupsUsergroups   ProfileProfile   Login to check your private messagesLogin to check your private messages   LoginLogin 

Canadian SOX requirements

 
Post new topic   Reply to topic    The Sarbanes Oxley Act Forum Index -> Overseas Impact of Sarbanes-Oxley
View previous topic :: View next topic  
Author Message
Hana
Guest





PostPosted: Thu Jun 03, 2004 3:02 pm    Post subject: Canadian SOX requirements Reply with quote

What is a good resource to help me identify Canadian requirement for Sarbanes Oxley. I need some general information regarding the differences.
Back to top
2thepoint
Soxer
Soxer


Joined: Apr 27, 2004
Posts: 21
Location: The Netherlands

PostPosted: Fri Jun 04, 2004 12:34 pm    Post subject: Reply with quote

Sox=Sox...
There or no differences in compliance...
Just follow the Sox-rules and regulations in USA, Europe, Canada or wherever you are...
Back to top
View users profile Visit posters website
hana
Guest





PostPosted: Fri Jun 04, 2004 1:30 pm    Post subject: canadian requirements Reply with quote

I have heard there are quite a few differences, and all sites I have found deal with US regulations. While they may be the same, is there a site directed towards Canadian regulations for SOX?..the associated Bill 198/ or 196?
Back to top
2thepoint
Soxer
Soxer


Joined: Apr 27, 2004
Posts: 21
Location: The Netherlands

PostPosted: Sun Jun 06, 2004 4:17 pm    Post subject: Re: canadian requirements Reply with quote

hana wrote:
is there a site directed towards Canadian regulations for SOX?..the associated Bill 198/ or 196?

If you follow the US regulations you can't go wrong .... we did the same here in the Netherlands...
If there is a site, I wouldn't know...The associated Bill 198 is according to me UK-regulations associated Bill 197/198 try otherwise this one....
Back to top
View users profile Visit posters website
holger
MasterSoxer
MasterSoxer


Joined: May 18, 2004
Posts: 117
Location: Europe

PostPosted: Mon Jun 07, 2004 3:01 am    Post subject: Reply with quote

There're only differences regarding the deadlines. Not US Comp. have to be compliant by the end 2005. That's the first time you have to file the requested statements to the sec/pcaob.
Back to top
View users profile Send email
Hana
Guest





PostPosted: Mon Jun 07, 2004 9:28 am    Post subject: Canadian Requirements Reply with quote

Ok so if there isn't a difference between Canadian and US Requirements, what would be a good site to reference what I need to know to ensure compliance with SOX? THX.
Back to top
holger
MasterSoxer
MasterSoxer


Joined: May 18, 2004
Posts: 117
Location: Europe

PostPosted: Wed Jun 09, 2004 7:27 am    Post subject: Reply with quote

Obviously the act itself. Maybe the document "IT control requirements for sox" from www.itgi.org. You should pay close attention to the sec 302 and 404. The 404 work will take some effort, time and money. You maybe want you external auditor to perform some kind of pre-audit to point out the areas where you are required to solve some deficiencies.
Back to top
View users profile Send email
Tony
Guest





PostPosted: Tue Jul 20, 2004 3:22 pm    Post subject: Reply with quote

This is my understanding too - we're a British subsidiary of a European company listed in the US. SOX is SOX, but "luckily" us FPIs get an extra year.
Back to top
Chris
Soxer
Soxer


Joined: Aug 10, 2004
Posts: 19
Location: Calgary Canada

PostPosted: Tue Aug 10, 2004 10:08 am    Post subject: Reply with quote

I'm a little late to this discussion but I've been using the PCAOB document to provide insight on how we'll be audited. One needs to remember that this document is directed at the responsibilities of auditors not "Management" however it does provide some interesting information.

Chris
Back to top
View users profile
davedd
Guest





PostPosted: Tue Aug 24, 2004 12:08 pm    Post subject: Re: Canadian Requirements Reply with quote

Hana wrote:
Ok so if there isn't a difference between Canadian and US Requirements, what would be a good site to reference what I need to know to ensure compliance with SOX? THX.


Is there any software out there enabling compliance to Bill 198 - the Canadian equivalent of SOX?
Back to top
HW
Guest





PostPosted: Thu Nov 04, 2004 9:26 am    Post subject: Re: Canadian Requirements Reply with quote

davedd wrote:
Hana wrote:
Ok so if there isn't a difference between Canadian and US Requirements, what would be a good site to reference what I need to know to ensure compliance with SOX? THX.


Is there any software out there enabling compliance to Bill 198 - the Canadian equivalent of SOX?


Yes, many, one of them is SO-Comply.
You can write to me, and I provide you with more information
hubert
Back to top
Fletch
Guest





PostPosted: Mon Dec 06, 2004 4:44 pm    Post subject: re: Candaian SOX Reply with quote

Actually there are differences between SOX and it's counterpart legislation in Canada (Bill 198, Ontario (200)) (mostly timing of regs coming into force but some differences in regs as well). A quick overview of the Bill and the differences can be found at intaudit.edmonton.ab.ca/newsltr/iianews/ 2004/Dec%2004/Bill%20198%20(Overview)%20II%20A%20presentation.pdf

This only applies to companies which are listed solely in Canada. If your company is listed on an SEC regulated exchange then you do have to comply with SOX.
Back to top
Casper17
Newbie
Newbie


Joined: Feb 08, 2008
Posts: 1

PostPosted: Fri Feb 08, 2008 12:11 pm    Post subject: There is a Canadian Standard Reply with quote

The Candian standard is called MITS. It is very similar to SOX however there are some regualtory differences. Non-compliance carries penalities fromt he Canadian Government
Back to top
View users profile
gmerkl
MasterSoxer
MasterSoxer


Joined: May 26, 2008
Posts: 187
Location: Switzerland

PostPosted: Tue May 27, 2008 11:43 am    Post subject: Canadian SOX provision Reply with quote

In Canda the following applies (text from Ontario Securities Commission's website CANADIAN SECURITIES ADMINISTRATORS NOTICE 52-313):

After careful consideration of the feedback received and recent developments internationally, particularly in the US, we propose to expand MI 52-109 to include the internal control reporting requirements discussed below.

• The CEO and CFO of a reporting issuer, or persons performing similar functions, will be required to certify in their annual certificates that they have evaluated the effectiveness of the issuer's internal control over financial reporting as of the end of the financial year. They will also be required to certify that, based on their evaluation, they have caused the issuer to disclose in its annual MD&A their conclusions about the effectiveness of internal control over financial reporting as of the end of the financial year.

• As noted above, the issuer's annual MD&A will include disclosure regarding its internal control over financial reporting. This disclosure will include a description of the process for evaluating the effectiveness of the issuer's internal control over financial reporting and the conclusions about the effectiveness of internal control over financial reporting as of the end of the financial year.

The issuer will not be required to obtain from its auditor an internal control audit opinion concerning management's assessment of the effectiveness of internal control over financial reporting.

The board of directors and its audit committee, in consultation with management, may choose to consider whether they wish to engage the issuer's auditor to assist in discharging their respective responsibilities for (i) the issuer's internal control systems and (ii) review and approval of the issuer's annual MD&A. However, engagement of the auditor will not be a requirement under MI 52-109.

The proposed internal control reporting requirements discussed above do not diminish the existing obligations of the issuer's auditor under generally accepted auditing standards to (i) understand the issuer's internal controls relevant to the audit of the issuer's financial statements and (ii) read materials with which the auditor is deemed to be associated, such as the issuer's MD&A, assess whether they are inconsistent with their knowledge and take appropriate action if they are aware of any material misstatements of fact or, if applicable, misrepresentations.

I hope this clarifies the question on the Canadian requirements.
Back to top
View users profile
jieran
Newbie
Newbie


Joined: May 07, 2012
Posts: 2

PostPosted: Tue May 08, 2012 1:37 am    Post subject: Reply with quote

Another project I would recommend is a matrix of administrative authority (basically who does what and what is the limit of their limit of control (e.g. spending limits)).
Back to top
View users profile


Display posts from previous:   
Post new topic   Reply to topic    The Sarbanes Oxley Act Forum Index -> Overseas Impact of Sarbanes-Oxley All times are GMT - 6 Hours
Page 1 of 1

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
Forums ©

 
Trademarks referenced on the SOX Act Forum are property of their respective owners. Comments are property of their respective posters.
Sarbanes-Oxley Act Implementation Portal: Sarbanes Oxley compliance, information, software, & internal audit committee resources. Sarbox.
Site source is copyright nuke (c)2003, and is Free Software under the GNU / GPL licence agreement. All Rights Are Reserved.