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Whenever enterprises seeking overseas listing must not open around the U.S. "Sarbanes-Oxley Act" (the "Sox"), this Road sill child. Recently, the Chinese capital market has been feverishly brewing, "the Chinese version of Sox"?? "Basic norms of internal control" was released, and intended to come into effect in January next year. Expected in the near future, entry into the capital market pharmaceutical companies will face the test. Despite the recent U.S. industry associations have called for the abolition of the Sox by the higher audit costs, but understand that this is not a crusade against the industry's voice. Not long ago, herald medicine through the Sox "final exam" for the Interpretation of the bill to the company the cost and risk control management ideas to provide a reference. Analytical model "The effectiveness of management will effectively stop the Paomaodilou, blocked the use of internal control problems and risks, not only can improve management efficiency, cost savings are significant expenditures." Precursor to the audit of internal control, general manager of Bear Medicine Lixin told reporters. Xiong Lixin, told this reporter herald Sox audit is not in the business greatly, but the existing internal control system in the enterprise, based on preliminary combing through all levels of enterprises, the implementation of the "plus" a "decrease" principle, in accordance with the risk assessment from top to bottom, and an important key processes for effective defects rectification, while the means to make full use of information systems, curing some processes, reduce duplication of effort and enhance efficiency. It is understood that herald from the market, the spending nearly two years to complete the enterprise's internal control and risk control, the audit found a number of key risks, not previously noted. Xiong Lixin particular example: "Once upon a precursor to a meeting the minutes are not strictly required, while combing through internal control, and now has cultivated the habit of meeting," As the meeting is often the source of introduction of corporate policy, Therefore, the reform of the primary internal control is to manage all the minutes are filed, from oral to written and then to the original summary, collection care, improving efficiency, to verify the source of policy implementation has rules to follow. Speaking Sox audit herald the benefits, Xiong Lixin that, although by Sox increased business costs, but by such a work, enterprise risk management can be made more systematic, scientific, comprehensive, and Enterprise management is concerned there is no doubt a great benefit. At the same time, this approach applied to non-financial statements of enterprises other processes, can fully sort out the various processes, many companies are changing the existing management approach with personal initiative to help companies complete the transition from the rule of man to the rule of law. "If the previous enterprise risk management is only 60 minutes, then the Sox after the baptism of the audit, it can be said now reached 80. It not only improves the overall control of business risks, the efficiency of business activities also greatly upgrade. "Xiong Lixin harbinger of the internal control management in the evaluation of the impact of the case. However, the audit through the Sox does not mean that the future once and for all. Xiong Lixin said that this work will become a normal mode of management, audit compliance from the Sox to a comprehensive risk management and control, strengthening the company's internal control risk-oriented audit. Take Xiong Lixin's words, "this requires changes in consciousness and culture." Cost of war In fact, talking about Sox, their general impression of the industry is its high cost. According to the Boston research firm AMR statistics, in 2006 alone, U.S. listed companies to comply with the cost of the Sox as much as 60 billion dollars. The more the U.S. industry experts believe that the high cost of implementation of the Act clearly prevents the United States Financial System's competitiveness. Sox for audit by the costs involved, Xiong Lixin admitted that indeed spend so much on the initial stage. We are high quality suppliers, our products such as China Driver Gloves , Winter Leather Gloves Manufacturer for oversee buyer. To know more, please visits Leather Driving Gloves.
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