I never expected the Securities and Exchange Commission to appreciate Throwback Thursdays—but that’s what we saw from the SEC yesterday, when it served up a good old-fashioned enforcement action for faulty evaluation of internal controls. The target was Magnum Hunter Resources Corp., an oil services company in Texas (with a name like that, where is else…

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For any compliance and audit professionals who wonder, “How did all this ever come to pass?” or even more to the point, “Can I really make money doing this?”—spare a thought for one of the people who put you on this career path, and who passed from the scene last week. Michael Oxley—yes, that Oxley,…

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