SOX
U.S. legislation mandating financial reporting accountability
ISO 22000
International standard for food safety management systems.
Quick Verdict
SOX mandates financial reporting controls for US public companies to prevent fraud, with severe criminal penalties. ISO 22000 provides voluntary food safety certification for global food chains, ensuring hazard control via HACCP and PRPs for market access.
SOX
Sarbanes-Oxley Act of 2002
Key Features
- Requires CEO/CFO certification of financial accuracy
- Mandates ICFR management assessment and reporting
- Establishes PCAOB for audit oversight
- Enforces auditor independence requirements
- Imposes criminal penalties for tampering
ISO 22000
ISO 22000:2018 Food safety management systems
Key Features
- High-Level Structure for management system integration
- Dual PDCA cycles for strategic and operational control
- HACCP integration with PRPs, OPRPs, and CCPs
- Risk-based hazard analysis and control planning
- Strengthened leadership accountability and communication
Detailed Analysis
A comprehensive look at the specific requirements, scope, and impact of each standard.
SOX Details
What It Is
Sarbanes-Oxley Act of 2002 (SOX) is a U.S. federal statute regulating corporate governance and financial disclosures for public companies. Its primary purpose is protecting investors via accurate reporting, with a risk-based, control-focused approach emphasizing internal controls over financial reporting (ICFR).
Key Components
- **Three pillarsPCAOB oversight (Title I), auditor independence (Title II), executive accountability (Titles III–XI).
- Core sections: 302/906 (certifications), 404 (ICFR assessments), 409 (real-time disclosures).
- Built on COSO framework; no fixed controls but key categories like ITGC, entity-level, process controls.
- Compliance via annual management reports and auditor attestations.
Why Organizations Use It
- Mandatory for U.S. public issuers; reduces fraud risk, builds investor trust.
- Enhances governance, operational efficiency, M&A readiness.
- Lowers cost of capital; deters misconduct via penalties.
Implementation Overview
- Top-down risk-based scoping, documentation, testing, monitoring.
- Applies to public companies; scaled for size (e.g., EGC exemptions).
- Annual Section 404 audits for most; uses GRC tools for efficiency.
ISO 22000 Details
What It Is
ISO 22000:2018 is the international standard for Food Safety Management Systems (FSMS). It provides a certifiable framework for organizations in the food chain to ensure safe products through systematic hazard control. Its risk-based approach integrates HACCP principles with management system discipline using the High-Level Structure (HLS).
Key Components
- Clauses 4-10 cover context, leadership, planning, support, operation, evaluation, improvement.
- Core elements: PRPs, hazard analysis, CCPs/OPRPs, traceability, verification.
- Built on two PDCA cycles (organizational and operational).
- Voluntary certification via accredited bodies.
Why Organizations Use It
- Meets regulatory/customer requirements; mitigates recalls and risks.
- Enhances supply chain trust, market access (e.g., GFSI).
- Drives efficiency, integration with ISO 9001/14001.
- Builds stakeholder confidence and competitive edge.
Implementation Overview
- Phased: gap analysis, PRPs/HACCP design, training, audits.
- Applies to all food chain actors, scalable by size.
- Involves certification audits (stage 1/2), surveillance.
Key Differences
| Aspect | SOX | ISO 22000 |
|---|---|---|
| Scope | Financial reporting internal controls (ICFR) | Food safety management systems (FSMS) |
| Industry | Public companies, all sectors (US-focused) | Food chain organizations worldwide |
| Nature | Mandatory US federal law with SEC enforcement | Voluntary ISO certification standard |
| Testing | Annual ICFR audits by external auditors (PCAOB) | Internal audits, management review, certification audits |
| Penalties | Criminal fines, imprisonment for executives | Loss of certification, no legal penalties |
Scope
Industry
Nature
Testing
Penalties
Frequently Asked Questions
Common questions about SOX and ISO 22000
SOX FAQ
ISO 22000 FAQ
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