I am an Accountant, recently settled down here in Australia and I have found many companies here are concerned about SOX, but I have never heard of this before. Are these regulations applicable only to Australia? Who should comply with these regulations?
SOX is the public company accounting reform and investor protection act. It was passed in response to high-profile business failures, such as Enron and WorldCom, in order to reinforce investment confidence and protect investors by improving the accuracy and reliability of corporate disclosure. It is American law but affects all subsidiaries and units worldwide. You can read all about SOX at the link.
What is Sarbanes Oxley Compliance (SOX)?
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November 24th, 2009 at 7:53 pm
SOX is the public company accounting reform and investor protection act. It was passed in response to high-profile business failures, such as Enron and WorldCom, in order to reinforce investment confidence and protect investors by improving the accuracy and reliability of corporate disclosure. It is American law but affects all subsidiaries and units worldwide. You can read all about SOX at the link.
References :
http://thecaq.aicpa.org/Resources/Sarbanes+Oxley/