New York (March 4, 2004) -- Top-ranked accounting firm Eisner LLP has partnered with Report it Systems, a provider of technology-based anonymous hotline solutions, to provide public companies with a Sarbanes-Oxley hotline solution.
The two companies have adapted Report it System’s existing technology to facilitate compliance with the regulations of Sarbanes-Oxley section 301, which requires audit committees of public companies to establish procedures for the receipt, retention and treatment of anonymous complaints from employees and others relating to accounting, internal financial controls and audit concerns. The section has an implementation deadline of Oct. 31, 2004.
Privately held Report it Systems provides anonymous hotline services for businesses, public and private corporations as well as the education community.
Anthony Lavalle, president of Great River, N.Y.-based Report it Systems, said Eisner’s investment brings the company the financial resources and expertise needed to create a proprietary corporate whistleblower program for public companies.
"We believe that this will be an invaluable tool for public companies," Eisner managing partner Charles Weinstein said. “An anonymous reporting vehicle may be considered a ‘best practice’ for public companies to meet the act's requirement for confidential reporting or ‘whistle blowing.'"
Eisner has about 75 public company clients.
-- WebCPA staff
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