Several provisions of SOX have been adopted in countries

worldwide, which lends credibility to SOX and its intended

purpose of protecting investors.

Adopted provisions by other countries, including Australia,

Canada, China, India, and Mexico, are executive certification of

financial statements, mandatory audit committees consisting of

all independent directors, creation of standard setting bodies

similar to the PCAOB in regulating the auditing profession, the

rotation of audit partners and audit firms, and executive

certification of ICFR without requiring an audit opinion.

State laws generally affect corporate governance by setting

requirements for companies’ directors and officers. There is no

uniform body of corporate law in the United States because

each state is allowed to establish its own model.

The judicial process and court decisions in several landmark

cases have affected the structure of corporate governance in

the United States. Many of the court cases have led to

increased accountability and liability for a company’s board of

directors.

By establishing listing standards for their listed companies, SROs

including stock exchanges can also influence corporate

governance.

List of self-regulatory organizations