Sox and GAAP 1198

  • Hi,
    What is the relation between SOX and GAAP. and what do we have in Egypt (If any body knows) is applicable to use with SOx act 2002?

  • EGYPT: Egyptian Accounting Standards have been prepared to comply with International Accounting Standards except for certain minor differences to adopt to Egyptian economic environment. Therefore all companies listed on the Cairo Stock Exchange must follow IAS.
    More on Revised.htm
    The annual accounts you prepare must comply with GAAP in the country where you file.

  • By in large there is no relationship between SOX and GAAP as they are trying to acomplish different things.
    GAAP is the collection of accounting standards that determine how you should record, quantify and present financial transactions within financial statements.
    SOX is about the governance of public companies.

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