In the United States, companies certify to the Securities and Exchange Commission, but in Ireland companies certify publicly in annual reports rather than to a competent authority. That is another nail in the coffin of foreign direct investment in Ireland. In the United States it is required that accounts "fairly present in all material respects the operations and financial conditions" of the business, while in Ireland the requirement under this legislation is that companies "comply with company and tax law and all other relevant obligations that may materially affect the company's financial statements". This is a tougher regime than in any other country.