Could the USA’s SOX In-control Regime Serve as an Example for EU Member States?

Abstract

On 12 November 2021, the European Commission (‘EC’) published a consultation document on strengthening the quality of corporate reporting and its enforcement by addressing shortcomings in the underlying ecosystem. The duties of this EC initiative include examining the role that internal controls can play in achieving a high standard of reporting. The present article examines the existing in-control regime in the United States and whether that regime might serve as an example for EU Member States. internal controls, in-control statement, reporting standards, Sarbanes-Oxley Act