J-Sox
Modeled after the U.S. Sarbanes-Oxley Act J-SOX, is the unofficial name of the legislative framework of internal controls over financial reporting (ICFR) that falls within the scope of the Japanese Financial Instruments and Exchange Law. This law was introduced in June 2006, as an amendment to the existing Japanese Securities and Exchange Law in response to increasing corporate frauds that have occurred in Japan in recent years and represents a significant reform of previous securities legislation.
The J-Sox law requires all listed companies in Japan to bolster internal controls and to provide full and accurate disclosure of financial information. These laws will impact companies listed on Japanese stock exchanges and will also affect the subsidiaries of the listed companies, operating in other areas of the globe.
BDO’s Risk Advisory Services has significant experience in providing J-Sox services.
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