Which of the following statements is true of the Sarbanes-Oxley Act?
A) It requires all audit papers to be retained for at least ten years.
B) It requires the Public Company Accounting Oversight Board to inspect and review registered accounting firms that audit more than 100 public companies once a year.
C) It created the Securities Exchange Committee.
D) It allows a registered public accounting firm to simultaneously provide audit and legal services to a public company.

Question

Quizplus · Accepted Answer

The Sarbanes-Oxley Act requires the Public Company Accounting Oversight Board (PCAOB) to inspect and review registered accounting firms that audit more than 100 public companies annually.

Which of the Following Statements Is True of the Sarbanes-Oxley