Relations/Trade with Non SOX Compliant Companies 994
ladytuna last edited by
If U.S. companies who are SOX compliant have relations or do ‘business’ with oversea non-sox compliant companies - is there any negative consequences of this? This is allowed, isn’t it? Is there anything that needs to be kept in mind here or need to be addressed. I appreciate any help with this.
viky2cool last edited by
No where in the SoX act has it been mentioned that SoX compliant companies cannot do business with non SoX compliant companies. However, if the non SoX compliant company is a strategic partner then there may some element of ‘top level push’ for SoX compliant.
Hope this helps.
angie last edited by
Regarding SOX, the partnership that have direct impact on the financial accounts of your entities need to be cared about - this means you may need to ensure that they have all the controls in place to garantee the proper input in your accounts. And that is why the Form S70 is requested from most of the subcontractors with impact in the accounts.
I believe that this is the only consideration to have under SOX view point.