RE: Sarbanes-Oxley Act

Short Answer - yes.

The CEO & CFO of the parent company must attest that adequate controls
are in place to prevent tampering with Corporate financial records.  The
potential for tampering and fraud in owned companies is as real as the
potential in the parent company.

Either case could have the effect of creating a material miss-statement
of financial results, and therefore put the company in violation of SOX
- irrespective of international borders.

jte

--
John Earl | Chief Technology Officer
The PowerTech Group
19426 68th Ave. S
Seattle, WA 98032
(253) 872-7788 ext. 302
john.earl@xxxxxxxxxxxxx
www.powertech.com 
 

 
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> -----Original Message-----
> From: midrange-l-bounces@xxxxxxxxxxxx [mailto:midrange-l-
> bounces@xxxxxxxxxxxx] On Behalf Of Shields, Ken
> Sent: Thursday, November 04, 2004 6:47 AM
> To: Midrange Mailing LIst (E-mail)
> Subject: Sarbanes-Oxley Act
> 
> Hello everyone.
> 
>       Just a general question, perhaps someone knows the
> answer.
> 
>       As a Canadian subsidiary of a US Corporation, must
> our software and methods be
>       SOX compliant?
> 
> 
> Ken Shields
> PPG Canada Inc
> 155 First Ave.
> Oshawa, Ontario L1H 7L3
> PH:  905 725 1144 (326)
> FAX: 905 433 8712
> 
> 
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