The Sarbanes–Oxley Act and non-US issuers: Considerations for international companies

Megan N Gates

DOI:https://doi.org/10.5912/jcb54

Abstract:

The Sarbanes–Oxley Act of 2002 was signed into law by President George W. Bush on 30th July, 2002, in the wake of an unprecedented wave of corporate governance and accounting scandals that fundamentally shook public confidence in the integrity of the US securities markets. The Act's widespread effects continue to be analysed and dissected by companies and their advisors both in the USA and abroad. One of the most controversial elements of this legislation is its impact outside the borders of the USA, which is beginning to affect some of the most basic corporate governance and disclosure practices of companies worldwide. Foreign issuers subject to the Act must now begin to review their corporate governance practices carefully in order to ensure compliance with the new rules.

Keywords:Sarbanes–Oxley Act ,corporate governance ,audit ,Securities and Exchange Commission ,GAAP ,certification ,financial statements ,en ,