Australia and England 1555

  • are there any laws in Australia and England that are similar to that of the SOX Act here in the U.S.?

  • i do not know what the regulatory requirements are in AUStralia, but, in the UK and EU, Companies are subject to corporate Governance laws and regulations.
    Otherwise, there is no specific act which requires a detaied assessment of controls testing performed internally, by external auditors.
    the only exception, is where is company is a subsidiary of a US owned company, or is a Foreign Private Investor trading on the US stock exchange and therefore, needs to complty with US regulations

  • hello. I’m just a newbie but I know the answer to this one :idea: (in relation to Australia at least)
    In Australia the SOX act applies for any Australian company that also has a US stock market listing.
    Other than that there is no Act and the strict criteria do not apply to regular Austrlian companies not listed in the US.
    However there are our auditing and assurance standards (called ASA and governed by the AUASB) but they do not require the auditor to report on the internal controls like SOX 404 does.

  • UK Public Comapnies are covered by the UK Combined Code on Corporate Governance.

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