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SOX Compliance Cost $1.7M, Audit Fees $3.6M in 2007 Financial Executives International announced the results of its seventh Sarbanes-Oxley compliance survey, which found that Section 404 compliance cost U.S. publicly traded companies less in year four of adoption than in each of the first three years.

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CFOs Give Mixed Messages on Economy: Grant Thornton Survey In a national survey of CFOs and senior comptrollers conducted by Grant Thornton LLP, 59 percent believe that the U.S. economy will worsen over the next six months, while 39 percent believe it will improve or remain the same. Deloitte: Volunteerism Leads to Tangible Gains Skills-based volunteerism is a powerful and cost-effective professional development tool, yet very few companies are leveraging volunteer programs for this purpose, according to a survey by Deloitte. Finance Execs Assess Economic Risks Posed By Weather Former U.S. Comptroller Says U.S. Needs Wake-up Call Former U.S. Comptroller David Walker delivered a somber economic message last week at UT Dallas, but told the audience of business leaders that there was still time for the nation to take its bitter fiscal medicine and keep a growing budget deficit from dimming its future. Monster Worldwide's Former Chief Operating Officer Charged in Options Backdating Case The former chief operating officer of the employment services company Monster Worldwide was arrested Wednesday, charged with backdating stock option grants to employees between 1997 and 2003. Why You Should Pay Your Intern A paid internship has an obvious benefit for the intern, and a not-so-obvious benefit to the firm. Learn why you should pay your interns for their work. OFHEO Issues Fair Value Guidance The Office of Federal Housing Enterprise Oversight (OFHEO) has issued guidance regarding Statement of Financial Accounting Standards No. 159, The Fair Value Option for Financial Assets and Financial Liabilities. IMA Appoints New CEO The Institute of Management Accountants announced that Jeffrey C. Thomson has been named IMA acting president and CEO, succeeding former president and CEO Paul A. Sharman, who leaves IMA to pursue other opportunities. PCAOB Adopts Ethics Rule, Amends Tax Services Rule The PCAOB on Tuesday voted to adopt Rule 3526, Communication with Audit Committees Concerning Independence, and an amendment to Rule 3523, Tax Services for Persons in Financial Reporting Oversight Roles. Spotting Fraud Through Software Two Virginia Tech associate professors say a computerized method could help detect corporate fraud or accounting problems by sifting through company publications. FASB to Be Downsized The board of trustees of the Financial Accounting Foundation (FAF) has voted to approve major changes to the oversight, structure and operations of the FAF and its two standard-setting Boards, the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB).

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