HOW DO COMPANIES COPE WITH SARBANES-OXLEY 302 CORPORATE?
The introduction of the Sarbanes-Oxley 302-Corporate have made American businesses create additional regulations that ensure instances like the Enron and WorldCom scandals do not become a reality again. The Sarbanes-Oxley 302-Corporate specific provision enforcing that, “The CEO and CFO of each issuer shall prepare a statement to accompany the audit report to certify the ‘appropriateness of the financial statements and disclosures contained in the periodic report, and that those financial statements and disclosures fairly present, in all material respects, the operations and financial condition of the issuer.’ A violation of this section must be knowing and intentional to give rise to liability.”
EARLY TROUBLES WITH SARBANES-OXLEY 302-CORPORATE
The Sarbanes-Oxley 302-Corporate has given American companies more security, but many European businesses are finding that the establishment of the 2002 Act has made doing business with American establishments difficult. According to Serge Ejzenberg, who wrote The Sarbanes-Oxley Act : The Real Costs and Value, “Around 305 European companies with equity or debt traded in the US are affected by SOX. The annual cost to European business is estimated to be in the region of $ 850 m.” These figures indicate that The Sarbanes-Oxley 302-Corporate that many European-based businesses are losing money in investments in American businesses. Another aspect of Sarbanes-Oxley 302-Corporate that is hurting European-based businesses is that many European businesses multiply the losses by “unwilling to turn their back on the world’s largest pool of market capital. What’s more, to make the excuse that SOX is too costly or difficult when peer compa ...