SOX and Ireland 1145

  • Hi everyone. I am doing a small dissertation on the SOX and its impact on the Irish and UK companies. I have understood the act but I am stuck with its implications. I am refering to many USA and UK academic journals but the imformation in there seems to be vague.
    I am especially stuck on the following issues :
    (1) does subsidiary of an Irish parent comany, doing business in NY, USA has to comply with SOX?
    (2) lets say, USA subsidiary in Ireland - ‘Microsoft Ireland’ has to comply with SOX?
    If you could please help me with this, i would really appreciate.
    Real life example:
    We know that MICROSOFT IRELAND is a subsidairy co of MICROSOFT USA. Do you think that MICROSOFT IRELAND has to comply with the provisions of the SOX?

  • ONLY Microsoft Corp has to comply with SOX and no other Microsoft entity.
    In achieving compliance with SOX Microsoft Corp may (or may not) have to assess the effectiveness of internal controls in it’s Microsft Ireland subsidiary. Whether the Irish subsidiary is in scope will depend on materiality and risk.
    Only the legal entity filing documents with the SEC needs to comply with the provisions of the SOx Act - this may, however, require supporting work to be done in some or all of it’s subsidiary companies.

  • thanks Denis

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