In public companies, a committee of non-executive directors that is responsible for oversight of financial reporting, internal and external audits, compliance with regulatory codes, and risk management. This committee enhances accountability, auditor independence, and public confidence.
The Sarbanes-Oxley Act of 2002, often abbreviated as SOX, is a United States federal law that mandates various regulations to improve the accuracy and reliability of corporate disclosures and to protect investors against fraudulent financial practices.
