Mazars worldwide survey
on the Sarbanes Oxley Act:

Overall, companies are ready



61% of South-American, European and Asian companies surveyed by Mazars say they are totally prepared for the implementation of the Sarbanes Oxley Act (SOX).

This is what has been revealed in the Mazars survey carried out in January, February and March 2006, among the South-American, European and Asian businesses listed in the United States. This study did not involve American companies; the field of investigation was limited to non American companies listed in the United States, to perceive how they view the obligations of a measure which did not originate in their own countries but still applies to them.

Mazars wanted to know specifically what steps these companies took to deal with this wide-ranging bill (Date that bill becomes law, cost, training and implications for colleagues and management, etc) and what positive or negative impact they expected from it.

In particular, this survey shows that, in part, companies seem satisfied with this new law: 83% of companies surveyed announce that SOX forms an appropriate response to their main risks. However, they do not neglect to point out the high cost and excessive legalisation that it brings. Some even consider that SOX is going to force them to leave the American Stock Exchange.




GENERAL TRENDS

• SOX is well appreciated for its focus on major risks in internal control matters.
  
  
• European companies are less pro-SOX than their Asian and American counterparts.
  
  
• Significant financial and human investments in a wide ranging project.
  
  
• Despite the constraints considered as excessive, foreign companies do not envisage delisting from the American market.