According to Wikipedia J-SOX is the nickname of Japan’s Financial Instruments and Exchange Law, which was promulgated on June 14th, 2006. Japan, the world’s second-largest economy by GDP, had its own corporate scandals. How do you find out more about compliance legislation in Japan. Quite naturally most of the literature is written in Japanese. To those of us who unfortunately never learned to read Japanese SAP Services Partner Protiviti provides guidance in English. A FAQ and a flash report on J-SOX answer questions like
- What is J-SOX?
- Is it the same as the U.S. Sarbanes-Oxley Act?
- Hast the J-SOX legislation already been passed? Under the legislation, when would the J-SOX requirements be effective?
- Which companies are subject to J-SOX requirements?
- What does J-SOX require companies to do? Are the requirements the same as those under US SOX?
- Is the scope of J-SOX limited to interal control over financial reporting?
- Is the J-SOX internal control framework different from the COSO framework used in the USA?
- When should Japanese companies start preparing for J-SOX compliance?