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

All the Latest From Our Audit & Assurance Team

5% of ASX-listed companies delisted in 2019-20

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The clampdown on reverse listings and de-listings of long-suspended companies bites listed ASX shells for the year ended 30 June 2020 During the financial year…

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Don't underestimate the implications of AASB 16 leases

Posted By William Buck News on 11/10/2019 05:29:54 am

Since the new leases standard – AASB 16 – came into effect earlier this year, it’s presented several operational challenges with entities now needing to…

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Important changes to lease agreements

Posted By William Buck News on 14/08/2019 04:38:53 am

Do you work in a finance team, sit on a Board, or are you a business owner? Do you need to report to ASIC or…

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Is your Financial Reporting up to standard?

Posted By William Buck News on 11/07/2019 05:07:40 am

The William Buck Financial Reporting series has wrapped up for the year, providing finance professionals with the latest insights to help their business. Covering various…

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