which of the following is a requirement of the sarbanesminus−oxley act? course hero

Which of the following is a requirement of the Sarbanes-Oxley Act?

Which of the following is a requirement for the Sarbanes-Oxley Act? An outside auditor must evaluate the client's internal controls and report on the internal controls as part of at the audit report.

What does the Sarbanes-Oxley Act mandate?

It requires internal controls for assuring the accuracy of financial reports and disclosures, and mandates both audits and reports on those controls. It also requires timely reporting of material changes in financial condition and specific enhanced reviews by the SEC or its agents of corporate reports.

What are the elements of the Sarbanes-Oxley Act?

11 Titles Of Sarbanes-OxleyTitle I: Public Company Accounting Oversight Board. ... Title II: Auditor Independence. ... Title III: Corporate Responsibility. ... Title IV: Enhanced Financial Disclosures. ... Title V: Analyst Conflicts Of Interest. ... Title VI: Commission Resources And Authority. ... Title VII: Studies & Reports.More items...

What were the core objectives of passing the Sarbanes-Oxley?

The primary goal of the Sarbanes-Oxley Act was to fix auditing of U.S. public companies, consistent with its full, official name: the Public Company Accounting Reform and Investor Protection Act of 2002. By consensus, auditing had been working poorly, and increasingly so.

What are requirements of the Sarbanes-Oxley Act quizlet?

What does the SO Act require companies to do? -Requires companies to maintain effective internal controls over the recording of transactions and the preparing of financial statements. -Requires companies and their independent accountants to report on the effectiveness of the company's internal controls.

What are requirements established by the Sarbanes-Oxley Act of 2002 quizlet?

It established requirements related to "corporate responsibility" to make executives take responsibility for the accuracy of financial reporting (including a requirement for certification by the entity's "principal officers") and to make it illegal for management to improperly influence the conduct of an audit.

What are two requirements established by the Sarbanes-Oxley Act of 2002?

Sarbanes-Oxley Act of 2002 - Title I: Public Company Accounting Oversight Board - Establishes the Public Company Accounting Oversight Board (Board) to: (1) oversee the audit of public companies that are subject to the securities laws; (2) establish audit report standards and rules; and (3) inspect, investigate, and ...

What are SOX compliance requirements?

SOX Compliance Requirements SOX requires that all financial reports include an Internal Controls Report. This report should show that the company's financial data is accurate (a 5% variance is permitted) and that appropriate and adequate controls are in place to ensure that the data is secure.

What does the Sarbanes-Oxley Act of 2002 require a chief financial officer to do quizlet?

Explanation: The Sarbanes-Oxley Act of 2002 requires that the Chief Executive Officer (CEO) and CFO (rather than the CFO and the Controller) certify in writing that their company's financial statements and accompanying disclosures fairly represent the results of operations.

Which of the following provisions of the Sarbanes-Oxley Act addresses the rules of professional responsibility for attorneys?

Section 404 of the Sarbanes-Oxley Act addresses the: A. rules of professional responsibility for attorneys.