Many nations adopting more stringent US accounting laws

A MORE stringent law introduced last May by the United States, which regulates public accounting practices, is set to extend beyond the borders of America, says an international accounting expert. 

The legislation, known as the Sarbannes-Oxley Act of 2002, attempts to address many of the issues raised by the Enron and Arthur Andersen crises in 2002 which led to the collapse of the former, a mammoth energy multinational, and bringing down together the latter, one of the world's top four public accounting firms.