The Sarbanes-Oxley Act and Its Impact on European Companies

Released on by Peter Krimmer
preview-18

  • The Sarbanes-Oxley Act and Its Impact on European Companies Book Detail

  • Author : Peter Krimmer
  • Release Date : 2006-01-12
  • Publisher : GRIN Verlag
  • Genre : Business & Economics
  • Pages : 163
  • ISBN 13 : 3638453928
  • File Size : 87,87 MB
DOWNLOAD BOOK

The Sarbanes-Oxley Act and Its Impact on European Companies by Peter Krimmer PDF Summary

Book Description: Diploma Thesis from the year 2005 in the subject Business economics - Accounting and Taxes, grade: Sehr Gut (Grade: A), Vienna University of Economics and Business (Management Accounting and Auditing), language: English, abstract: The present thesis examines the impact of the Sarbanes-Oxley Act of 2002 (SOA) on European companies and identifies their attitude towards its provisions. To raise the information needed, from May until the end of June 2005 all affected European companies (290) received access to the online questionnaire. Overall nearly twenty percent responded to the questionnaire. The following key findings have been identified: •The smaller a company is, the more problems it has to comply with the Sarbanes-Oxley Act. •The degree of the top management’s involvement in the compliance process plays a crucial role. •Almost every company has a formal code of ethics in place, but their senior management does not communicate it enough to their employees. •Almost every company has a whistleblower hotline in place to let all employees raise ethics and compliance issues and many of them also indicate that it allows an anonymous, confidential reporting and follow-up on raised issues. Only 30 percent of the hotlines were managed by an outside third party. •Most of the companies believe that the compliance costs have exceeded the benefits in 2004, but a positive trend - after the first compliance - towards the benefits can be identified. All in all, the thesis provides a representative overview on the SOA compliance situation of European companies.

Disclaimer: www.yourbookbest.com does not own The Sarbanes-Oxley Act and Its Impact on European Companies books pdf, neither created or scanned. We just provide the link that is already available on the internet, public domain and in Google Drive. If any way it violates the law or has any issues, then kindly mail us via contact us page to request the removal of the link.

The Sarbanes-Oxley Act

The Sarbanes-Oxley Act

File Size : 68,68 MB
Total View : 6989 Views
DOWNLOAD

The Sarbannes-Oxley Act (SOX) is a mandatory requirement for all listed corporations in the US, whether foreign or not. Compliance is not an option. Other count