The Internal Controls over Financial Reporting assessment of the Sarbanes-Oxley Act are relevant for any company with securities listed in the US, including many large UK companies.
Opinion and news analysis
Radical reforms proposed by the UK Government could see thousands more companies brought under new, more stringent, audit and corporate reporting rules previously aimed at the UK’s largest businesses.
The Audit, Reporting and Governance Authority will be reinforced with new powers over local government audit, protecting public funds and ensuring councils are best serving taxpayers.
A key purpose of the BEIS White Paper on restoring trust in audit and corporate governance is simply to get companies to become really transparent in supplying more accessible information.