With J-SOX Compliance Deadlines Approaching, Protiviti Advises Companies to Initiate Efforts Now to Avoid High Costs and Inefficiencies Later



    
    Risk Consulting Leader to Conduct Webinar on J-SOX Compliance Requirements
    and Suggested Approaches - Tuesday, August 21, 2:00 p.m. EDT
    

    MENLO PARK, Calif., Aug. 14 /CNW/ -- For nearly 4,000 Tokyo Stock
Exchange-listed Japanese companies, including their significant subsidiaries
and affiliates around the world, the deadline for compliance with Japan's
Financial Instruments and Exchange Law -- commonly referred to as "J-SOX" --
is looming.  Compliance with J-SOX is required for fiscal years beginning on
or after April 1, 2008.  While this may seem to afford them enough time to
establish effective compliance processes, these organizations should start the
necessary work now to minimize corporate disruption, according to Protiviti
Inc.  Protiviti, a leading global provider of independent business and
technology risk consulting and internal audit services, has been working with
Japanese organizations since 2006 on their J- SOX compliance efforts and has
assisted thousands of companies worldwide with Sarbanes-Oxley compliance.
    
    (Logo:  http://www.newscom.com/cgi-bin/prnh/20051101/SFTU041LOGO)
    
    "A majority of Japanese organizations face the prospect of addressing
internal control requirements for the first time and are in a quandary as to
the most effective way to achieve compliance," said Paul Sachs, managing
director with Protiviti.  "Most did not have to comply with Sarbanes-Oxley,
and those that did had to meet a different materiality threshold.
Specifically, weaknesses and deficiencies that may not be viewed as material
under Sarbanes-Oxley may be viewed as such under J-SOX."
    Sachs, who is based in Los Angeles, and Managing Directors Nick Benvenuto
(New York), Hyo Kambayashi (Tokyo) and Aki Tohyama (Los Angeles), comprise
Protiviti's J-SOX compliance services senior leadership team.  Well-versed in
both J-SOX and U.S. Sarbanes-Oxley, they are assisting companies around the
world in understanding the new compliance requirements and how the rules
differ.
    Adding to Sachs' comments, Benvenuto noted, "It's highly recommended that
organizations affected by J-SOX initiate an assessment of current needs as
early as possible, develop an approach for compliance, and check with the
external auditor to ensure this approach is in alignment with the auditor's
expectations."
    Protiviti will discuss these and other issues during a J-SOX webinar on
Tuesday, August 21, at 2:00 p.m. EDT.  Sachs will present an overview of the
J-SOX requirements and offer a suggested approach to compliance for foreign
subsidiaries of Japanese corporations.  To register for the webinar, go to
www.protiviti.com/go/jsoxevents.  The deadline to register is August 17, 2007.
    In addition, Protiviti has just issued a Flash Report addressing
questions raised in the July 18 exposure draft from the Japanese Institute of
Certified Public Accountants (JICPA) regarding internal control over financial
reporting.  Protiviti's J-SOX Flash Report, which is available at
www.protiviti.com/go/jsoxflashreport, reviews the JICPA's guidance and offers
recommendations for management as they work with auditors on complying with J-
SOX requirements.
    
    J-SOX Compliance Services Expanded to Meet Increased Need
    
    Protiviti, which offers its proven Compliance and Risk Management
Solution to assist Japanese companies with meeting the J-SOX requirements, has
recently expanded its core teams of experts who have specific J-SOX
experience.  In addition to Tokyo and Osaka, where Protiviti has a diversified
practice that has partnered successfully with Japanese companies since 2006 to
address J-SOX compliance issues, the company now has J-SOX teams deployed in
most major cities in the United States as well as locations where J-SOX
requirements are impacting global entities, such as Toronto, London, Amsterdam
and Hong Kong. In addition, Protiviti has become the leading provider of J-SOX
training and services in Tokyo and other locations in Japan.
    Protiviti's J-SOX Compliance and Risk Management Solution provides a
comprehensive suite of services for companies, which includes advisory and
consulting services; project planning and management; documentation,
evaluation, testing and remediation of risks and controls; and IT tool
implementation and support.  This solution can help companies:

    
    -- Achieve effective ongoing compliance with J-SOX
    -- Improve the speed, efficiency and quality of financial reporting
    -- Implement a sustainable process to manage compliance costs
    -- Establish effective global corporate governance.
    
    Protiviti's J-SOX Compliance and Risk Management Solution also comes with
the company's deep skills, proven methodologies and extensive experience that
have assisted thousands of companies worldwide with Sarbanes-Oxley compliance
efforts.  This expertise has helped Protiviti become one of the world's
foremost authorities on the complexities of establishing reliable internal
control over financial reporting.
    "Our presence in Japan and the experience we've already gained from
assisting organizations with J-SOX underscores the key benefits of our global
footprint and approach," said Tohyama.  "Protiviti views each client's needs
from a global perspective, and we are consistent in our approach and in the
delivery of our frameworks and methodologies.  Thus our professionals in Japan
are also leveraging the key learnings garnered from Protiviti's vast
experience with Sarbanes-Oxley compliance in the United States and other
countries."
    
    Proven Technology to Support Compliance Efforts
    
    In addition, part of Protiviti's J-SOX Compliance and Risk Management
Solution includes its Compliance Portal, a web-based process and knowledge
management solution designed to assist organizations with improving corporate
governance, complying with J-SOX requirements and enhancing business
performance.  The portal, which is available in both English- and Japanese-
language platforms, serves as a repository for all internal control
documentation, evaluation and testing, and is used by business professionals
to comprehensively manage all phases of their compliance programs for J-SOX
and other corporate governance regulations.
    For more information about Protiviti's J-SOX Compliance and Risk
Management Solution, visit www.protiviti.com.
    
    About Protiviti
    
    Protiviti (www.protiviti.com) is a leading provider of independent risk
consulting and internal audit services. The company provides consulting and
advisory services to help clients identify, assess, measure and manage
financial, operational and technology-related risks encountered in their
industries, and assists in the implementation of the processes and controls to
enable their continued monitoring.  Protiviti also offers a full spectrum of
internal audit services to assist management and directors with their internal
audit functions, including full outsourcing, co-sourcing, technology and tool
implementation, and quality assessment and readiness reviews.
    Protiviti, which has 60 locations in the Americas, Asia-Pacific and
Europe, is a wholly owned subsidiary of Robert Half International Inc. (NYSE
symbol: RHI). Founded in 1948, Robert Half International is a member of the
S&P 500 index.
    Protiviti is not a law firm and is not licensed or registered as a public
accounting firm.  The company does not issue opinions on financial statements
or offer attestation services.




For further information:

For further information: Kevin Donahue, +1-650-234-6385, 
kevin.donahue@protiviti.com, or Kathy Keller, +1-650-234-6252, 
kathy.keller@protiviti.com, both of Protiviti Web Site:
http://www.protiviti.com

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