After two years of wrangling, Japan is finally ready to begin imposing its own tough set of rules about internal controls over financial reporting, modeled after Sarbanes-Oxley in the United States. The Financial Services Authority gave final approval to its rules on Feb. 15, an English translation is pending, and the government expects Corporate Japan to start gradual implementation of the rules this spring.
With that, Japanese companies are wondering aloud if J-SOX is really necessary.
