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Tag Archive for Banking

How OVH Finances its Growth Financially

Laurence Delorme, Tax Advisor

Sustained growth, increased financing needs. For eighteen months and the launch of the Spiral project which provides 1.5 billion euros of investment over five years, OVH’s Chief Financial Officer, Nicolas Boyer, is on all fronts.

To take advantage of the explosion of the cloud market and accelerate our growth, we have embarked on a massive international expansion. Previously based mainly in France and Canada, we have deployed a dozen new data centers in Australia, Singapore, Poland, Germany, the United Kingdom and the United States.

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Senate Bill Gives Sarbanes-Oxley Exemption to Small Banks

Ron Wainright Jr, Tax Advisor

Banks holding less than $1 billion in assets could receive an exemption from the auditor attestation requirements of Section 404(b) under the Sarbanes-Oxley Act of 2002. Under S. 1962, the Community Bank Access to Capital Act of 2017, the proposed Senate bill frees smaller banks from the more complicated and expensive reforms under Sarbanes-Oxley. S. 1962 also requires public companies to hire an external auditor to attest to management’s internal controls over financial reporting. The bill’s co-sponsor, Senator Mike Rounds (R-S.D.), stated the proposed measure would promote growth among community banks and help them support their communities. Read more