Deloitte & Touche, Movaris Partner On Sarbanes-Oxley

To promote best practices for long-term corporate governance success

To promote best practices for long-term corporate governance success

Cupertino, CA — February 5, 2004 — Deloitte & Touche, a professional services firm, and Movaris, a provider of corporate compliance management software, announced that they are partnering to hold a Web seminar today advising businesses on best practices for Sarbanes-Oxley compliance.

During the Web seminar, the companies said industry experts would focus on how embracing compliance will result in re-energized companies, more confident investors and reduced costs.

Since the passage of the Sarbanes-Oxley law, improvements in corporate governance have begun to take hold. Although complying with the letter of the law is required, actively embracing compliance results in business rewards.

For example, Procter & Gamble and Regis Corp. implemented Movaris' compliance software to avoid last-minute rushes to comply by their respective fiscal-year deadlines. Regis said that by taking the necessary steps to comply, it expects the software to pay for itself.

Furthermore, Regis cited the strong ethics and reliable reporting that come with corporate governance that reassures a company's investors and can improve shareholder value.

"Deloitte and Movaris share the view that Sarbanes-Oxley compliance is more than a one-time task," said Lee Dittmar, lead consulting partner and co-leader of Deloitte's Sarbanes-Oxley initiative, and special guest speaker at today's Web seminar. "Managing controls throughout the life of a company helps to garner investor confidence and, ultimately, the company's success. Putting a combination of the right policies, processes and technology in place is critical to achieving this success."

Kurt Garbe, president and CEO of Movaris and Sarbanes-Oxley speaker at today's Web seminar, stated that rather than looking at point solutions that consider just one part of the Sarbanes-Oxley problem such as documenting controls, companies should know that there is a comprehensive solution that addresses all phases of compliance. "Companies will find that by embracing a solution that goes beyond control documentation to actively scheduling, testing and helping with attestation preparation, the business benefits will extend into the years ahead," he said.