Who SOX's the SEC.? 1998
WrightLot last edited by
The SEC Chairman tells America on CNBC that SOX ‘is being copied around the world by major markets including the U.K. and China.’ Well maybe China but where and when in the UK?
The UK had a framework in place before SOX was introduced. Since SOX where has this framework been impacted other than both the UK and EU stating that they have no intention of introducing an equivalent of SOX 404?
A potential material misstatement by the SEC Chairman?.
Denis last edited by
You are absolutely right the UK Combined Code PRECEDES SOX by anything between 4 and 10 years depending on your perspective.
The core of UK Combined Code came from the Cadbury Report in 1992, which was enhanced by the Rutteman report in 1994 (internal control and financial reporting) with further enhancements in 1995 (Greenbury Report) In 1996 the Hampel Committee was set up to look at how well htis had been implemented resulting in the publication of the first version of the Combined Code in 1998.
A second version was issued in 2003 including the Higgs (The role of non-execs) and Smith (Audit Committees) Reports.
A third version was issued last year.
harrywaldron last edited by
Last week, the CBNC site referenced in the thread below contained the 8 minute interview with Chairman Cox (and still is available as of now). While ‘J-Sox’ (Japan) might be added to the list, the comments regarding ‘markets all over the world’ might indeed be too much of a broad brush.