An increasing number of private companies are choosing to comply with the
Sarbanes-Oxley Act, even though they are not required to, it has been reported.
Despite many publicly-traded corporations claiming the measures are expensive
and burdensome, with some avoiding listing in the US or looking to escape the US
market because of the demands, others are now opting in to the requirements of
the act, according to the Wall Street Journal.
Reasons for private companies moving to Sarbox range from having investors
who hope the company will soon go public, to believing the measures will make
their businesses more efficient. Pressure from lenders and customers, as well as
a desire to prevent fraud, have also been listed as reasons.
Further powers are being sought by HMRC, but it is ‘failing’ to use those it already has, such as Conduct Notices, says RPC
HMRC breaches client confidentiality; and partner profits fall at EY. These stories and more discussed in Friday Afternoon Live
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group