Apr 03, 2017 · 20. Which of the following is required by the Sarbanes-Oxley Act? a. a price-earnings ratio b. a report on internal control c. a vertical analysis d. a common-sized statement. b. a report on internal control. 21. All of the following are typically included in the management’s discussion and analysis in annual reports except a. explanations of ...
Jan 26, 2019 · Which of the following is required by the Sarbanes-Oxley Act of 2002? a. A price-earnings ratio. b. A report on internal control. c. A vertical analysis. d. A common-sized statement. ANS: B PTS: 1 DIF: Moderate OBJ: 17-04
Dec 12, 2015 · All of the choices are requirements included in the Sarbanes - Oxley Act. Benchmarking involves Copying or mimicking the practices used by highly successful competitors Copying or mimicking the practices used by highly successful competitors A key component of total quality management (TQM) is All of the answers represent components of TQM
20) All of the following are requirements of the Sarbanes-Oxley Act (SOX) except: A) tip lines that allow employees to secretly submit concerns about questionable accounting or auditing practices. B) fines of up to $5 million plus repayment of any fraud proceeds. C) evaluation and reporting on the effectiveness of internal control over financial reporting for large public …
So what is SOX? The law mandates strict reforms to improve financial disclosures from corporations and prevent accounting fraud. It also covers issues such as auditor independence, corporate governance, internal control assessment, and enhanced financial disclosure.
5 Key but Lesser-Known Requirements of Sarbanes-Oxley CompliancePrivate companies and nonprofits. ... Public Company Accounting Oversight Board exclusivity. ... Audit committee independence and auditor prohibitions. ... Publishing code of ethics. ... Extent of increased whistleblower protections.Dec 16, 2013
To achieve this, Sarbanes-Oxley (SOX) mandated greater auditor independence, increased corporate governance and documentation of corporate internal controls, and enhanced financial disclosures.Oct 23, 2017
The Sarbanes-Oxley Act of 2002 is a law the U.S. Congress passed on July 30 of that year to help protect investors from fraudulent financial reporting by corporations.
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.
The Sarbanes-Oxley Act (SOX) mandates which of the following? Increased regulations related to auditor-client relations.
Who Must Comply with SOX? SOX applies to all publicly traded companies in the United States as well as wholly-owned subsidiaries and foreign companies that are publicly traded and do business in the United States.Mar 29, 2020
The Sarbanes-Oxley Act (SOX) is a federal act passed in 2002 with bipartisan congressional support to improve auditing and public disclosure in response to several accounting scandals in the early-2000s.