2006-06-13 Pressrelease

 

 

The consultant company Euronordia AB (Euronordia) has today signed an agreement on cooperation with ÅF-STIBI (ÅF), a wholly owned subsidiary of Ångpanneföreningen AB. The cooperation is to be done within the area of Sarbanes-Oxley (SOX). Sarbanes-Oxley Act is a law since 2002 in USA that amongst others is concerning internal control and investor protection targeting most of the listed companies in USA.

 

EuroNordia is today a leading company providing SOX-services and has been participating in several SOX-processes. ÅF may together with EuroNordia provide the market with competence and experience within the area of technology, supervision and financial controlling. The cooperation between the companies enables an additional offer to the today so accounting focused SOX-process. The companies will be a new alternative and complement to the present 4 big auditing companies that at present dominate to a large extent the SOX-market.  SOX can be the rescue to avoid problems and financial crisis similar to ABB´s Combustion Engineering, Enron, Parmalat and others.

 

EuroNordia will together with ÅF present a new software product that can administer an already carried out SOX-process. EuroSox® is a new method that has been developed for a simple and efficient way to comply with the USA-based SOXrules today. Through this cooperation the European customers will have a new  partner and provider within this area. The today auditor dominating SOX-market is managed often from a financial focus in the SOX-process. Today more of environmental aspects as IT-background and technical background and with higher degree of technological competence is needed than what is used currently with SOX.

 

EuroNordia and ÅF will during at its first joint SOX-seminar present and proof the need for SOX and other SOX-related services that they want to offer the market.

Any questions please contact:

Anders Hedström,  EuroNordia, tel. 0046 (0)706-427016
Hugo Oljemark,  ÅF, tel. 0046 (0)8-6605696

Stockholm 2006-06-13

Euronordia AB   ÅF-STIBI AB