Which of the following is most correct regarding the requirements under Section 404 of the Sarbanes-Oxley Act?
A) The audits of internal control and the financial statements provide reasonable assurance as to misstatements.
B) The audit of internal control provides absolute assurance of misstatement.
C) The audit of financial statements provides absolute assurance of misstatement.
D) The audits of internal control and the financial statements provide absolute assurance as to misstatements.

Question

Quizplus · Accepted Answer

Section 404 of the Sarbanes-Oxley Act requires companies to provide a report on internal control over financial reporting. The audits of internal control and financial statements provide reasonable assurance as to the accuracy and completeness of financial statements and internal controls but not absolute assurance.

Which of the Following Is Most Correct Regarding the Requirements