US GAAP and SOX
If your business has international operations or dealings, particularly involving the United States, you will be aware of the need to understand and comply with Generally Accepted Accounting Practice (US GAAP) and the Sarbanes–Oxley (SOX) Act governance laws. PKF Australia is able to provide local support and advice on both.
US GAAP and SOX are highly complex regulations and can impose quite onerous requirements on business. This makes them challenging to manage from a distance, particularly given their US-centric nature and connections to other US company laws.
As many countries, including the USA, progress to adoption of international financial reporting standards (IFRS), PKF Australia is well placed to assist your business with its American dealings both while GAAP still applies and through the transition to IFRS.
SOX imposes a number of governance requirements on American businesses which differ from those that apply in Australia. Our deep knowledge of both Australian and US compliance requirements can help you streamline your interactions between the two countries and minimise the potential for costly challenges or fines.