SOX and French companies 94



  • Dear All,
    as part of the legal department of the french subsidiary of a publicly traded US company, I am wondering what are the main impacts we should expect in our company over here due to this legislation. Specifically, what should we expect, as the french entity of this group (new procedures, what des compliance imply, etc…)?
    This may be a bit short to get answers, but please feel free to ask more deails, and I’l try to be more specific, assuming some confidentiality is also necessary.
    Thanks in advance for any help, 🙂
    Infoseeker.



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  • The requirements for all publically traded companies are the same with compliance dates varying. The impact of your group on the financials will be a key component of how much this will impact your group.



  • Cassandra is right on…
    The question is not if you will have to be compliant the question is only when…
    And as Cassandra pointed out that depends on the impact your group has on the companies over all financial statement.
    I am currently in Israel because a US client has a significant investment here which greatly impacts their financial statement … so they will have to be compliant this year.
    In another week I will be in Thailand.



  • Allan,
    Please email me at cassandra_koneval_at_hotmail.com



  • Hi Cassandra,%0AThe compliance to SOXA of the foreign entities of a US multinational is requested from now on. Of course all depends on the materiality of the international business that the group has internationally compared to the one realized in the US. But, the weight of the international business can change over time. I believe that it is better for you to start realizing that some work needs to be done, at least on the main activities…%0AI am doing it for a group that owes subsidiaries in Europe wich represents only 20 % of their worldwide business. %0ALet me know if you need more help


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