The Sarbanes-Oxley Act of 2002 (SOX) was introduced by the US Government to protect shareholders and the general public from accounting errors and fraudulent practices in enterprise.

The Act seeks to require greater accountability by management and the Board of US companies (and their subsidiaries) in the reporting of financial data.

As a result, many Australian subsidiaries of US-registered reporting entities are faced with the onerous task of compliance with the Sarbanes-Oxley Act (in addition to their local regulatory obligations).  The Act also applies to Australian and other non-US companies issuing and registering securities in the US.

The demands of SOX are significant and require considerable effort and commitment of resources to implement and monitor on an ongoing basis.

William Buck can assist your organisation in meeting the regulatory requirements and business challenges of the Act allowing your management team to focus on what they do best; growing the business.

Our team is consultative in nature ensuring that they fully understand your business; its business processes, associated risks and the material financial balances and disclosures.   This allows us to conduct an accurate assessment of control effectiveness and provide proactive, practical recommendations to remediate the control environment where necessary.

Furthermore, our proven methodologies stretch beyond compliance; striving to find efficiencies through business improvement by identifying unnecessarily complex or redundant procedures.

Our approach is not just about addressing the mandates of the Act.  We are committed to supporting our clients in the creation a strong and sustainable culture of ethics, good governance and reliable reporting.

How we can help

  • Implementing sustainable compliance frameworks
  • Developing & documenting internal controls
  • Identifying risks, control gaps & weaknesses
  • Testing existing control & implementing remediation where required
  • Project managing large & complex Sarbanes Oxley compliance projects

Sarbanes Oxley Act Compliance​ Specialists

Latest insights from our Sarbanes Oxley Act Compliance​ team

16 June 2021 | Minutes to read: 2

New Director Identification Numbers to tackle illegal phoenixing

All directors of Australian companies will be required, by 30 November 2022, to obtain a Director Identification...
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The purpose of an audit: an explanation for those that require, or should seek, an audit

This article will explain why organisations require audits, identify the legislation that enacts those audits, and detail...
1 June 2021 | Minutes to read: 4

SPFR Preparers: a plain language guide for what to expect under the new general-purpose financial reporting regime

Dear Special Purpose Financial Report Preparers – let me call you SPFRPs for short – it will...
1 June 2021 | Minutes to read: 7

Removal of Special Purpose Financial Statements for certain For-Profit entities

In March 2020, the Australian Accounting Standards Board approved the issue of AASB 2020-2  Removal of Special...
27 May 2021 | Minutes to read: 3

Not-for-profits entities and Australian charities and Not-for-profits Commission (ACNC)

What is a not-for-profits entity? A not-for-profit entity, as its name suggests, is an organisation that does...
20 May 2021 | Minutes to read: 4

Governance & Compliance | May 2021

Breakthru back-pays more than $2.7m   Disability services provider Breakthru Ltd is back-paying employees more than $2.7 million...

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