The U.K. Financial Reporting Council is offering some assistance to U.K. and Irish companies registered with the U.S. Securities and Exchange Commission on how to comply with Sarbanes-Oxley requirements regarding internal controls.
The good news for those foreign-based companies is that the SEC has said it will accept the framework many of those companies are adopting or already have in place for testing and reporting on internal controls. The FRC is seeking comment on a draft guide that will help those companies apply that same framework to comply with the new U.S. requirements.
