European Firms Lag On Sarbanes-Oxley

Marshall, Jeffrey; Heffes, Ellen M.
November 2004
Financial Executive;Nov2004, Vol. 20 Issue 8, p10
Academic Journal
This article reports that several European companies subjected to the Sarbanes-Oxley Act are only in the early stages of planning their compliance, according to a benchmarking survey by A. R. C. Morgan. The survey also reveals that European companies are not paying sufficient attention to the act's whistleblower provisions. Further, the survey found that a percentage of companies reported that spreadsheets play an important role in both assessing the control environment and final financial reporting. It also found that a large number of companies have found it increasingly difficult to balance Sarbanes-Oxley compliance efforts with the prospective International Financial Reporting Standards and local government requirements.


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