J-SOX, Japanese version of SOX
Also taken from discussion in securityprocedure.com, Sarbanes Oxley Act enacted on July 2002, and after that many version released in every regional trying to comply this standard. One of the versions of SOX is J-SOX or Japanese version of Sarbanes Oxley Act, and also not forgets to mention other version such as European SOX.
The Big difference:
The big difference between SOX and J-SOX is fact that the J-SOX is wider than SOX in this case are:
Corporate objectives in the Japanese framework
- Effectiveness and efficiency of operations;
- Reliability of financial reports;
- Compliance with laws and regulations relating to business activities;
- Preservation of assets
Basic elements in the Japanese framework
- Control environment
- Risk assessments and responses
- Control activities
- Information and communication
- Monitoring
- IT support
The similarity
Driver
Japan 2006: Livedoor, an Internet service provider based in Tokyo was accused of fraud
US 2002: Accounting scandal by leading public accounting firms such as Arthur Andersen and Enron.
Any opinions? Suggestions? Successful JSOX implementations?
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