Section 404 of SOX requires an annual assessment of the effectiveness of internal control over financial reporting. Turkish subsidiaries of companies listed in the US may also be subject to SOX controls as part of group reporting.
Related terms
Internal controlProcesses and controls designed by management to provide reasonable assurance regarding the effectiveness of operations, the reliability of financial reporting and compliance with laws and regulations.COSOThe organisation that publishes the most widely accepted frameworks for internal control and enterprise risk management, and the general name for those frameworks.Compliance auditAn examination of whether an organisation's activities are carried out in accordance with the relevant laws, regulations, contracts or internal rules.Compliance officerThe authorised person responsible for running the compliance programme for the prevention of money laundering and terrorist financing at an obliged entity.Compliance programmeThe full set of policies, procedures, controls, training and monitoring activities an organisation puts in place to ensure compliance with laws and internal policies.Data controllerThe natural or legal person who determines the purposes and means of processing personal data and is responsible for establishing and managing the data filing system.
Last updated: October 22, 2026 · This definition is for general information only.