When living in the capital of the united kingdom which is London – for many reasons you may find yourself having to make use of an small business accountants near me. There are many reasons why you may need an small business accountants near me in London, it could for example to :-
advise you on getting started with your business
help you with additional income in your side business whilst working for an employer
advise you on marketing with your business
help with your tax returns for your work from home business
… and many other instances.
The main thing to do is to check out all of the other London accountant reviews and experiences that other users of the best accountants in London have had.
Part of the reason in making sure you use the best small business accountants near me in London is that as you can imagine hiring an accountant in London can turn out to be quite expensive. Having said that, when filing your tax expense return forms, the amount of money that your small business accountants near me could save you could well be worth the fee that you end up paying her in the first place.
Sarbanes Oxley ACT in Small Business Accountants Near Me
The Sarbanes-Oxley Act of 2002 is a United States federal law passed in response to the recent major corporate and accounting scandals including those at Enron, Tyco International, and World Com (now MCI). These scandals resulted in a decline of public trust in accounting and reporting practices.
Named after sponsors Senator Paul Sarbanes (D-Md.) and Representative Michael G. Oxley (R-Oh.), the Act was approved by the House by a vote of 423-3 and by the Senate 99-0. The legislation is wide-ranging and establishes new or enhanced standards for all U.S. public company Boards, Management, and public accounting firms.
The first and most important part of the Act establishes a new quasi-public agency, the Public Company Accounting Oversight Board, which is charged with overseeing and disciplining accounting firms in their roles as auditors of public companies. Some of the major provisions of the Sarbanes-Oxley Act’s include:
–Certification of financial reports by chief executive officers and chief financial officers
–Auditor independence, including outright bans on certain types of work for audit clients and per-certification by the company’s Audit Committee of all other non-audit work
–A requirement that companies listed on stock exchanges have fully independent audit committees that oversee the relationship between the company and its auditor
–Significantly longer maximum jail sentences and larger fines for corporate executives who knowingly and willfully misstate financial statements, although maximum sentences are largely irrelevant because judges generally follow the Federal Sentencing Guidelines in setting actual sentences
–Employee protections allowing those corporate fraud whistle blowers who file complaints with OSHA within 90 days, to win reinstatement, back pay and benefits, compensatory damages, abatement orders, and reasonable attorney fees and costs.