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Compensation Clawbacks
In light of recent events in the financial markets, employers are exploring the use of "clawbacks" to recover bonus compensation payable to employees. Clawbacks are contractual provisions that allow employers to recoup compensation paid to employees in the event of an employee's misconduct and/or termination of employment, or voluntary departure to go and work for a competitor. There are special legal issues that may arise in drafting, negotiating and enforcing such clawbacks that employers need to be aware of to ensure compliance.

5 Compliance Functions Every Accounting System Should Have
At no other point in history has compliance been so important for public and private companies as today. Executives increasingly look to financial management systems, commonly referred to as Enterprise Resources Planning (ERP) systems, to manage their complex compliance needs. So the question becomes, which application is the best fit to support your company’s compliance? Whether you have a system in place or are just starting to look for one there are five important compliance questions you should be asking yourself.

Board Basics for Non-Profits
For most non-profit boards, governance remains simply a series of routines such as overseeing budgets, receiving audits, hearing reports, approving strategic plans, and so on. This is the traditional thinking that guides most non-profit boards. If boards are to be successful this approach must change. The board is where corporate policy is made, where project priorities and goals are set, where capital (yes, nonprofits have capital) is allocated and where the values of the organization and the community it serves are exemplified.

Other sarbanes oxley act Related Articles

Marketing Dashboard Best Practices
Over the past 10 years there has been a distinctive shift in Marketing activities; budgets are only being allocated to investments that can produce measurable returns, such as sales support and lead generation. In a time of Sarbanes-Oxley compliance, repeatable controls, processes, and policy & procedures, have been implemented to ensure accountability.

The Changing Role of Board Involvement in Corporate Strategy
Up until the early-2000‘s, corporate boards might have rubber-stamped their approval of the CEOs strategic plan without the need for much involvement in its formulation. They were largely content with rewarding profitability or handing out consequences for losses - all based on the rear-view mirror perspective of financial performance. In the United States, that changed with the arrival of the Sarbanes-Oxley Act of 2002, which required board members to pay far more attention than before to the goings on within their organizations. At that point, the stakes were raised in regard to board responsibly for managing the CEOs job performance, overseeing financial reporting and supervising risk management. Their legal liability to shareholders increased significantly.

Revisiting Sarbanes-Oxley Compliance
This article provides an updated view on The Sarbanes-Oxley Act (SOX) with a look at key sections, as well as financial management and controls and information technology. Included are three recommended strategies that characterize an effective SOX compliance methodology. The article also identifies online SOX resources including agencies, associations, media and financial peer communities.

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