The objective of the US federal Sarbanes-Oxley Act is to protect investors by increasing transparency and thereby the reliability of corporate disclosures e.g. for the purpose of securities transactions. The Act requires that all listed companies set up internal controls over their financial reporting and furthermore regularly test and verify the reliability of these controls. In addition, under the Sarbanes-Oxley Act, CEOs will be held personally accountable for unreliable controls and instances of fraud.
Accordingly, Danish companies aiming for listing in the USA are required to comply with the Sarbanes-Oxley Act. However, compliance with the Act is recommended even though US listing is not the present agenda as the Act promotes strong corporate governance and thereby a high degree of trust among stakeholders.
KPMG may help you set up successful internal controls to the benefit of your company.