Employees of US-listed companies who blow the whistle on fraud that take
place in the US can be protected under the Sarbanes-Oxley law even if they are
based beyond US shores, according to a landmark court ruling.
The decision, involving consultancy
overturns years of refusal by US courts to allow the extra-territorial
application of Sarbox’s whistleblower protection laws, the Financial
But this week, a judge in New York found that Rosemary O’Mahoney, a
Paris-based Accenture employee who claimed Accenture had carried out tax fraud,
could be protected because measures allegedly taken against her by the company
were orchestrated in the US.
Judge Victor Marrero, of the
court, southern district, said that, because the ‘alleged wrongful conduct
and other material acts occurred in the United States…the exercise of
jurisdiction by this court to resolve the dispute before it would not implicate
the extraterritorial application of American law’.
Revenue and profitability growth in on the rise for CPA firms, found a survey from the American Institute of CPA’s and its subsidiary CPA.com
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Carter Backer Winter has acquired Edwards Financial Services, expanding its financial planning department
New growth opportunities in Aberdeen, North East Scotland, are being invested in by Grant Thornton