S-Ox 404 in China

ching

I wonder if more people can comment the impact of S-Ox 404 compliance in the public chinese companies that have been on US stock markets.  One time someone squawked in this forum \"中国在美国上市的很多大公司都已经在如火如荼地做404合规的工作\", but it looks quite different from what I\'ve found from the a chinese audit company\'s website. I am attaching an excerpt from that website.\r\n\r\n[B]尽管在美国上市的中国本土公司还没有正式接受萨班斯法案第404条款所要求的内部控制审计[/B]，但404条款所带来的压力已经体现在企业管理中的各个方面。在美上市公司管理层将面对众多的挑战，包括，会计专业人员不足，缺乏美国会计准则的知识和运用经验，缺乏会计控制程序和手册，控制流程设计出现漏洞，执行控制的人员不具备必要的经验和操作水平，管理人员依然对内部控制概念理解不清晰，等等。

hotlyq

Most of China company listed inUS, either NY or NASDQ, are busy for 404. Of course, almost all services, including readiness & attestation, are provided by Big 4 so it is not a surprise if you could find little related information in the domestic firms.

disposalbj

Not all 404 compliance services are provided by Big-4s. Actually most small-to-medium listed companies are relying on boutique service firms established by ex-big 4 auditors.\r\n\r\nThere is little Chinese material over the internet because small firms could not spare time on writing the stuff for publicity.\r\n\r\nIf you could provide more specific questions, probably we can discuss over here.\r\n\r\nGood luck.

ching

Were you trying to recruit people to your firm? Your id sounds a little familiar. Anyway, I just try to know how S-Ox compliance was performed in China. I have been doing S-Ox 404 compliance as part of the internal control and always think of improving the process to be powerful yet efficient. We might be doing too much to overkill our business. I don\'t know how other companies do S-Ox compliance except some brief discussions in my local ISACA chapter. I imagine S-Ox 404 compliance will be also different overseas.