Sarbanes-Oxley (SOX) Consultancy

What is the Sarbanes-Oxley Act?
The Sarbanes-Oxley Act of 2002, also known as SOX, was passed owing to the accounting scandals at Enron, WorldCom, Global Crossing, Tyco and Arthur Anderson, that resulted in billions of dollars in corporate and investor losses. These losses negatively impacted the financial markets and general investor trust. The Sarbanes-Oxley Act mandates a wide-sweeping accounting framework for all public companies doing business in the US.

What companies need to comply with Sarbanes-Oxley?
All publicly-traded companies in the United States, including all wholly-owned subsidiaries, and all publicly-traded non-US companies doing business in the US are affected. In addition, any private companies that are preparing for their initial public offering (IPO) may also need to comply with certain provisions of Sarbanes-Oxley.

BB Hobbes and Sarbanes-Oxley auditing
BB Hobbes provided an external audit of the internal accounting controls for a leading London-based audit firm. The organisation was a UK-based subsidiary of a US-based company and legally needed an external audit to ensure compliance with section 404 of SOX. Our report allowed this organisation to keep within the legal requirements of business within the UK/US boundary.