Risk assessment of the sales business process is necessary for compliance with SOX.

Question

Quizplus · Accepted Answer

According to the Sarbanes-Oxley Act (SOX), risk assessment is a crucial component of the internal control framework of a company. The sales business process, being a significant revenue generator, needs to be evaluated for compliance with SOX requirements, including the control environment, risk assessment, control activities, information, and communication, and monitoring. Therefore, it is necessary to conduct a risk assessment of the sales business process to ensure SOX compliance.

Risk Assessment of the Sales Business Process Is Necessary for Compliance