Infosys adopts Sec 404 of SOX Act

 According to a release issued by Infosys to the BSE today, the company now ranks among the earliest foreign filers to have achieved the milestone with the certification.

 In its quarterly report on Form 6-K filed with the United States' Securities and Exchange Commission (SEC) on October 21, 2005, the company management has assessed internal control over financial reporting with effect from September 30, 2005. "The independent auditors, KPMG, have evaluated and independently verified management's assessment and issued an unqualified opinion. The assessment was performed voluntarily under the SOX Act, which requires company management to assess and report on company's internal controls over financial reporting," the release added.

 "I am delighted that we have achieved yet another milestone in our financial reporting," N R Narayana Murthy, chairman and chief mentor of Infosys, said. "We are committed to practice the highest standards of corporate governance in our business, and the compliance to the Sarbanes Oxley regulations is a milestone in this long journey."