Many accountants feel that the most important part of the Sarbanes-Oxley Act is:
A)Its anti-terrorist provisions
B)Its provisions requiring the reporting of suspicious activities
C)Section 404 on internal controls
D)Section 505 on money laundering

Question

Quizplus · Accepted Answer

Section 404 of the Sarbanes-Oxley Act is considered crucial by many accountants because it requires management and the external auditor to report on the adequacy of the company's internal control on financial reporting. This has significantly impacted how companies approach their internal controls and financial reporting.

Many Accountants Feel That the Most Important Part of the Sarbanes-Oxley