Español Inglés
Sarbanes-Oxley Act








 

COMMENTS TO THE RESTRICTIONS IMPOSED BY "SARBANES-OXLEY ACT" AND ITS REGULATIONS.

It is a fact that the US SEC is concerned about attorneys and auditorsí independence. Sarbanes-Oxley Ac (SOX)t, dated January 22, 2003, requires disclosure in periodic reports of non-audit services approved by the respective auditing committee.

Sections 201 and 202 of the Sarbanes-Oxley Act provide that an issuer's auditing committee must pre-approve "allowable services" to be provided by the auditor of the issuer's financial statements in order to assure the independence of such auditor. In doing so, the auditing committee may establish policies and procedures for pre-approval provided they are consistent with the Act, detailed as to the particular service, and designed to safeguard the continued independence of the accountant.

From our view, legal and tax assistance require independent and experienced lawyers. TAX & LEGAL CHILE has the experience required to avoid risks and future unsuspected liabilities and impacts arisen from Sarbanes-Oxley Act.