IT Braces for 'J-SOX' Rules 57
jcatcw writes to mention that Japan-based businesses are prepping for new requirements, called J-SOX, similar to Sarbanes-Oxley in the United States. Even though details are not expected until next month, many IT managers are already working on implementing controls to handle the expected regulations. "Marios Damianides, an IT risk management consultant and partner at Ernst & Young LLP in New York, said he expects that the relaxation of some Sarbanes-Oxley requirements by the Public Company Accounting Oversight Board in the U.S. late last year should help ensure that the J-SOX rules won't be excessive for businesses."
Re:Bye Bye public companies... (Score:3, Insightful)
Re:Bye Bye public companies... (Score:3, Insightful)
Huh.
Conservatives I'll give you... but libertarians have to HAVE some power for that to happen, don't you think?
Re:Bye Bye public companies... (Score:3, Insightful)
So yes, they are effectively shutout. No US company can seriously compete with China cooking the books as hard as they can even without SOX, SOX just adds to the pain by killing the cooks.
Re:Bye Bye public companies... (Score:3, Insightful)
To avoid a few billion lost in Enron, and a few billion lost in MCI - every few years.
That is Congress math!