Nearly 10 years after enactment of the American Sarbanes-Oxley Act (also known as “the Public Company Accounting Reform and Investor Protection Act”), and just as many years of hearing Europe-based lawyers and their clients complain about it, Europe may get its own legislation: a kind of Sarbanes-Oxley Lite, proposed last week by the European Commission. If passed, the legislation would require more stringent but not draconian oversight of the auditing profession in the European Union. See for details this one at Broc Romanek’s TheCorporateCounsel.net
