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Spamkebab


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SOX act 2002
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Is the Sarbanes Oxley act the Yankee version of IFRS?

I need to know whether a UK comapny (3 shareholders) has to comply with the SOX act. All i've read, covers 

US companies with over 500 shareholders.

Thanks for any info.

 

Neil.



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Shamus


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SOX is more comparable to corporate Governance than IFRS.

The Americans work to a rules based system rather than our principles based standards so under US GAAP which is regulated by FASB there are currently over 150 accounting standards.

SOX has had a fundamental effect on accounting and audit standards on both sides of the pond but is not in itself an accounting standard.

Unless the UK company has a US listing my understanding is that there is very little it has to do in relation to SOX.

hope that helps for starters..

kind regards,

Shaun.

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Shaun

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Spamkebab


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That's the way i read it,

Thanks Shaun.

As if i didn't have enough to learn without being asked to learn stuff that isn't relevant at this stage of the game lol.

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