The European Union s Sarbanes-Oxley Act (E-SOX)

Training Provided by Compliance LLC Course Title The European Union s Sarbanes-Oxley Act (E-SOX) The 8th Company Law, the Market Abuse and the Transparency Directives: Implementation and Compliance Training Overview: After the passage of the US Sarbanes-Oxley Act in 2002, US and non-US companies listed in a US stock exchange have the difficult task to comply with the Sarbanes-Oxley Act. After the passage of the European Union s 8th Company Law Directive on Statutory Audit (Directive 2006/43/EC), European and non-European companies listed in any country of the EU have to comply with the 8th company law directive. EU Member States must comply with this Directive before 29 June 2008. The 8th directive is considered the European post Sarbanes-Oxley regulatory retaliation. And, like in the US SOX, there are extremely important extraterritorial consequences. The Offshore Financial Centers (OFCs) for example must immediately enact legislation to prove that they have an equivalent level of regulation , to protect their auditors that audit offshore companies with EU listings from being subject to a tough European oversight regime. Otherwise, auditors and audit firms from third countries have to be registered in the EU and to be subject to oversight, quality assurance and sanctions. Companies listed in EU are directly affected. From the changes in the audit committee and the role of the board of directors to the new internal controls requirements, professionals in EU listed companies will face the same or similar challenges with their American colleagues that have to comply with the US SOX. The European SOX (E-SOX) and the Japanese SOX (J-SOX) definitely create a new flat world in the financial markets. Objectives: The seminar has been designed to provide with the knowledge and skills needed to understand and support compliance with the above important directives of the European Union s Financial Services Action Plan. Target Audience: This course is intended for audit committees and boards of directors, senior managers and executives, internal and external auditors and management consultants. The course is highly recommended to managers and professionals from: * Internal Audit * Internal Controls * Compliance * Operations * Risk * IT * Legal Duration: 2 Days, 09:00 to 17:00 Course Synopsis: Introduction * From the Sarbanes Oxley Act of 2002 to the European Union s equivalent regulatory vehicles * Restoring investor confidence in the EU * The European Unions Financial Services Action Plan (FSAP) * From the Eighth Directive of 1984 (Directive 84/253/EEC)to the 8th Company Law Directive on Statutory Audit (Directive 2006/43/EC) * From the Consolidated Admissions and Reporting Directive (CARD) to the Transparency Directive (Directive 2004/109/EC) * From the Insider Dealing Directive (Directive 1989/592/EEC) to the Market Abuse Directive (Directive 2003/6/EC) The 8th Company Law Directive on Statutory Audit The Directive * New Definitions * Approval, continuing education and mutual recognition of statutory auditors and audit firms * Registration of statutory auditors and audit firms * Professional ethics, independence and objectivity * Confidentiality and professional secrecy * Auditing standards * Statutory audits of consolidated accounts * Audit reporting * Quality assurance systems * Auditors' liability * Public oversight and regulatory arrangements between member states * Mutual recognition and designation of competent authorities * Application to non-listed public-interest entities * The Audit Committee * Similarities and differences with the US Sarbanes-Oxley Act The 8th Company Law Directive and Corporate Governance * The impact on corporate governance * The role of the board of directors and executive management * Internal controls and external auditors The 8th Company Law Directive: Committees and Interpretations * From the US Public Company Accounting Oversight Board (PCAOB) to the European Group of Auditors Oversight Bodies (EGAOB) * The three new bodies established in the EU * The Audit Regulatory Committee (AuRC) * The European Group of Auditors Oversight Bodies (EGAOB) * The European Forum on Auditors Liability The 8th Company Law Directive and the World * Approval of auditors from third countries * Registration and oversight of third-country auditors and audit entities * The 8th Company Law Directive and the European Union (EU) * Requirements applicable to the auditors of companies incorporated outside of the European Union (EU) * The 8th Company Law Directive and countries outside the European Economic Area * The importance of Articles 45 and 46 * The 8th Company Law Directive and the Offshore Financial Centers (OFCs) * The 8th Company Law Directive and the USA * The post-Sarbanes-Oxley regulatory retaliation opinion and the EU Financial Services Action Plan (FSAP) * Derogation in the case of equivalence * Cooperation with competent authorities from third countries The Transparency Directive * The harmonisation of transparency requirements with regard to information about issuers whose securities are admitting to trading on a regulated market * Annual financial reports * Half-Yearly financial reports * Transparency and information for holders of securities * Important disclosures * Major Holdings * Third countries * International Accounting Standards The Market Abuse Directive * Insider dealing * Market manipulation * Competent authorities with investigatory powers * How the directive is implemented under the Lamfalussy process Interaction between these directives and other regulatory initiatives * The three directive and the Financial Services Action Plan * How to comply with both the 8th Company Law Directive and the Sarbanes Oxley Act * The 8th Company Law Directive and the Financial Conglomerates Directive * The 8th Company Law Directive and the Savings Tax Directive * Compliance in the post-Parmalat EU and the post-Enron USA Our Policy Fixed fees, fixed terms. You know the exact final cost. Everything is included in this price (expenses, flights, tax etc.). There is no exception you know exactly the cost. Consulting or training, it will never cost more. Example: For George Lekatis, General Manager and Chief Compliance Consultant of Compliance LLC. Fee for Training: US$ 13,800 for 3 days (and $ 2,000 for each additional day) - final cost (any place in Europe, Asia or America, for teams from 2 to 50). This fee includes tax, expenses, hotels, flights, everything. For other trainers the fee may be different.

The European Union s Sarbanes-Oxley Act (E-SOX) http://www.8th-company-law-training.com/

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