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Sarbanes-Oxley extension welcomed by non-US business

Sarbanes-Oxley extension welcomed by non-US business

by Rick Turoczy on March 7, 2005

As well as SOX, European dual-listed companies are also facing the move to International Financial Reporting Standards, and the EU Financial Services Action Plan. In addition, UK companies also face the imminent introduction of the Companies Bill, which is designed to reform company law, and is due to take effect from next month.

The new extension means foreign private issuers, as well as US-based “non-accelerated filers”, will have an extra year to comply with the internal control over financial reporting. Those companies will now have until the first fiscal year ending on or after July 15, 2006 to comply with Section 404.

Sarbanes-Oxley extension welcomed by non-US business

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