The Companies Act
The Companies Act is the United Kingdom's version of United States' Sarbanes-Oxley Act. The Act, formally known as the Companies (Audit, Investigations and Community Enterprise) Act, has been passed into law in the UK in response to the Enron fiasco that occurred in the U.S.
Like SOX, the focus of the Companies Act is to require responsible financial reporting by companies. However, this Act provides considerations for small and medium-sized companies, where SOX makes no such provisions. SOX applies to all publically-traded companies - large or small. And like SOX, the Companies Act contains no specifications for IT Data security; however - just like SOX - it is implied.
