Oct. 22, 2002

Companies Must Examine Work Provided by Auditors Worldwide

Focus Column - International Law - By Veronika Albus and Peter Denwood - There has been a great deal of publicity about the Sarbanes-Oxley Act of 2002, which was signed into law on July 30. The act provides for significant changes in federal securities regulation, including a system of federal oversight of public auditors through a Public Company Accounting Oversight Board, new disclosure requirements, more severe civil and criminal penalties for accounting or reporting violations and a new set of auditor independence rules.