Explain SOX act and it’s importance
Sigiloso
SOX Compliance is the act of adhering to the financial reporting, information security and auditing requirements of the Sarbanes-Oxley Act (SOX Act)1, a U.S. law that aims to prevent corporate fraud. SOX compliance is an annual obligation for publicly traded companies doing business in the U.S. To be SOX compliant, companies must implement internal controls to protect financial data from tampering, track attempted breaches, log electronic records for auditing, and provide proof of compliance.