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Article: Encouraging employee engagement: new compliance regulations created by the Ontario Securities Commission and Sarbanes-Oxley should be considered benefits, not roadblocks.(Management Trends)
- Article from:
- CMA Management
- Article date:
- June 1, 2004
- Author:
CopyrightCOPYRIGHT 2004 Society of Management Accountants of Canada. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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At a recent forum for directors, two well-known Canadian CEO/Directors lamented how over burdened they and their fellow directors were by new compliance regulations created by the Sarbanes-Oxley Act (SOX) in the U.S. and the Ontario Securities Commission (OSC) Guidelines. Both complained, treated the compliance requirements as nuisances and regarded the new work as bothersome and frivolous.
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Unfortunately, a lot of professionals feel the same way. Yet, the recently introduced compliance requirements have the potential to significantly improve corporate culture, two-way communication and shareholder value. Just as speed limits are ...