Domain of SOX? 1260

  • Dear All
    I am a Solicitor of the Supreme Court of both England and also Hong Kong. Shortly, I hope to be moving to New Jersey from London, UK, where I will be involved with Risk Managment and other related areas of activity.
    I recognise and understand the need and role of SOX, and in the UK we have our own, yet more flexible Compliance/Goverance regime.
    My question to the forum however is specifically in relation to the full jurisdiction within the USA of SOX. Beyond, Financial Reporting does it cover other areas of corporate life such as Health and Safety, Environmental, and generally non-financial matters. If so, (1) where does the legislation allow for this and (2) please refer me to relevant articles and sources of information etc discussing the full exposure of corporate life to SOX beyond the Financial issues.
    Further, SOX is designed to control listed companies. Is there evidence to show that non-listed companies (i.e., those that are not described within the Legistion itself, as being covered by SOX) taking steps to comply with SOX as good Governance/Compliance.
    Does the US Court system expect these companies falling outside of SOX to comply with its requirements; can you give me examples, please. I have in mind litigation against such companies where the court might have stated in its judgment that a non-Sox company ought to have complied with the requirements of Sox irrespective of the requirements of the legislation.
    I look forward to hearing from people and thank you for your time and patience with me.
    Gary Marshall

  • SOx is related to control of the financial life of the company. HSE and such are other standards.
    I have seen some companies and organisations that are not required to comply with 404 to some extend, depending on type and size, implement it as a way of making sure their own company / organisation is controlled.
    As to the Court system, I would be surprised if they would expect anyone, that are not required to by SEC, to comply with SOA.
    However, US will always be US.

  • thank you. there would appear to be a school of thought amongst learned people I know who view the situation differently, i.e. as I stated. I am pleased to note your views and opinion.

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