GRCLaw

SOX

Sarbanes-Oxley Act of 2002

The Sarbanes-Oxley Act (SOX) is a U.S. federal law enacted in 2002 to enhance corporate accountability and financial transparency in response to major corporate scandals. It applies to publicly traded companies, mandating stricter financial reporting, internal controls, and governance standards.

Overview

The Sarbanes-Oxley Act of 2002 was introduced following significant corporate scandals such as Enron and WorldCom, which undermined public confidence in U.S. capital markets. The law focuses on enforcing transparency and integrity in public company financial reporting through various provisions, including enhanced responsibilities for corporate executives, independent audit committees, and stronger internal controls over financial reporting. Key sections include Section 302, requiring executive certification of financial reports, and Section 404, mandating management assessments of internal control effectiveness. The Act also established the Public Company Accounting Oversight Board (PCAOB) to regulate audit practices. SOX has become fundamental for U.S.-listed companies and indirectly influences global corporate governance.

Related in GRC

GRCStandard

National Principles of Child Safe Organisations

The National Principles for Child Safe Organisations outline ten core principles aimed at creating a child-safe culture within organisations that work with children. They provide a nationally consistent approach to promoting child safety and wellbeing.

Australian Government β€’ Australia β€’ v2025

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GRCFramework

COBIT 5 β€” COBIT 5

COBIT 5 is a comprehensive framework for the governance and management of enterprise IT, designed to maximize the value organizations derive from their information systems. It incorporates principles, practices, and tools to align IT with business strategies and goals.

ISACA β€’ Global β€’ v5

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GRCLaw

Sex Discrimination Act 1984

A federal law enacted by the Australian Government to eliminate discrimination on the basis of sex, gender identity, sexual orientation, marital status, pregnancy, or family responsibilities. It also addresses sexual harassment and outlines protections in employment, education, goods and services, and public programs.

Attorney-General's Department β€’ Australia β€’ v1 January 2014

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GRCLaw

South Africa Electronic Communications and Transactions Act 25 of 2002

The Electronic Communications and Transactions Act 25 of 2002 establishes legal and policy frameworks for regulating electronic communications and transactions in South Africa. It aims to facilitate universal access to electronic services, prevent abuse of information systems, and promote the use of e-government services and small business technology adoption.

Government of South Africa β€’ South Africa

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