As the holiday season approaches, and another wonderful year comes to an end, our reflections turn gratefully to our clients, customers and partners. Thank you for your valuable contributions, using our services and facilities and to the development of Controllers in 2007. The continued growth and success of Controllers for the benefit of Governance, Risk and Compliance (GRC) activities, is the direct result of your enthusiastic contributions, both professionally and individually.

We have made significant progress in all four segments of our GRC offerings and activities. In 2008, the enterprise compliance solution The Document Controller is ready to be introduced to the international market, Consultant Services with particular focus on the compliance of EU directives, will be offered together with Devoteam Consulting A/S, and last, but not least, the conference department of Copenhagen Compliance will also conduct a GRC conference in Sophia Antipolis, France (10th September 2008).

Prepare your business for EuroSox Compliance through the new networking group at DANSK IT. We focus on the challenges and opportunities that Euro Sox offers through knowledge sharing and professional input. For more information and sign up, please visit the forum's website (Danish spoken).

Copenhagen Compliance Conference den 22. november var en succes. Grevinde Alexandra åbnede konferencen, som havde en perlerække af internationale foredragsholdere, bl. a Jens Røder fra PwC og formand for Statsautoriserede Revisorer, prof. Steen Thomsen fra CBS og Dr. Anthony Tarantino fra IBM i USA. Jens Hald Madsen var konferencens ordstyrer. Se programmet her.

Besides our suggested calendar of events for 2008, we put forward 4 suggestions on the board’s focus on performance related to governance, risk issues, compliance and audit committees.

As we mentioned in our last newsletter we present The Board of Directors (BoD) Decision Planning Guide. Focus is laid on the Decisions Delegated to the Board of Directors and managements responsibilities. Some of the key areas covered in the guide are Annual business plan, Officer hiring and compensation plans, Stock options, Capital structure and liabilities, Dividends, Risk management, Insurance Policies, Acquisitions, divestitures, and capital expenditures, Litigation settlements, Fines and penalties, Restructuring issues, Tax settlements, Contingent liabilities and more.

Governance, Risks and Compliance activities are abundant. Avoid surprises and forgotten issues and plan the year ahead for GRC issues. Review the Board of Directors annual calendar with monthly tasks for The Board, Audit Committee, Corporate Governance Committee and Compensation Committee.

SEC Chairman Christopher Cox more or less assured non-accelerated filers, yet another year’s extension before they must get an auditor’s attestation on their internal controls, as required by Section 404(b) of Sarbanes-Oxley. We will review a study of Section 404 costs and benefits so that you can decide for yourselves whether internal controls are worth the bother.