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The US Congress enacted the Sarbanes-Oxley Act of 2002 (SOX) to protect the public from corporations and other business organizations engaging in fraudulent or erroneous practices. "To safeguard investors by increasing the accuracy and reliability of company disclosures," says SOX. The SOX compliance data security framework can be stated as follows:  Ensure financial data security Prevent harmful financial data manipulation Keep track of attempted data breaches and repair actions. Make event logs easily accessible to auditors. Demonstrate compliance over 90 days. Who Must Comply With SOX? SOX applies to all publicly traded firms with wholly-owned subsidiaries, including overseas publicly traded companies that do business in the United States. Accounting firms that audit public corporations are likewise subject to SOX. SOX creates a firewall between accounting companies and the auditing function. Private corporations, charities, and non-profits are often exempt from SOX's

Advance Pricing Agreement was introduced in India by the Central Board of Direct Taxes in 2012 to minimise the dispute in the transfer pricing structure in India which required the Arm’s Length Price (ALP) for every international transaction. It was instituted by Finance Act, 2012 by adding section 92CC and 92CD that shall be read with rules 10F to 10G and rule 44GA. What is an Advance Pricing agreement (APA)? Advance Pricing Agreement is an agreement between CBDT and taxpayer to fix the transfer pricing policy to resolve the future international pricing transaction of the taxpayer. After the Advance Pricing Agreement is fixed, the policy is applied for a definite period with certain terms and conditions. The purpose of APA is to promote transparency for taxpayers with regards to tax risks, to have a check on tax evasion by big MNCs working on international level. What is the Objective of the Advance Pricing Agreement?   APAs is applied for different international transactions: In sel