Which key provision of the Sarbanes-Oxley act should minimize the opportunity for public accountants to minimize conflict of interest?
A)Establish a maximum fees chargeable by public accountants to firms they do work for
B)Strengthens the protection for whistleblowers
C)Having the CEO's and CFO's certify the accuracy of financial reports
D)Prohibits accounting firms to provide consulting services and audit the same firm

Question

Quizplus · Accepted Answer

The key provision of the Sarbanes-Oxley Act that should minimize the opportunity for public accountants to minimize conflict of interest is the prohibition of accounting firms to provide consulting services and audit the same firm. This provision is aimed at ensuring that auditors maintain their independence and integrity while providing auditing services. By separating consulting and audit services, accounting firms are less likely to face conflicts of interest that can compromise the quality of their auditing services.

Which Key Provision of the Sarbanes-Oxley Act Should Minimize the Opportunity