A requirement of SOX is that publicly traded companies must have which of the following assessed annually?
A)Financial reporting system
B)Internal control system
C)Internal control system and financial reporting system
D)There is no annual assessment required under SOX.

Question

Quizplus · Accepted Answer

SOX requires publicly traded companies to have both their internal control system and financial reporting system assessed annually. This requirement is meant to ensure the accuracy and reliability of financial reporting, and to prevent fraudulent activities within the company.

A Requirement of SOX Is That Publicly Traded Companies Must