Section 404 of the Sarbanes-Oxley Act, Management Assessment of Internal Controls, includes all of the following except:

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Section 404 of the Sarbanes-Oxley Act requires that management assess the effectiveness of internal controls and report on it in the company's annual report. It also requires that management include an internal control report in its annual report. However, it does not waive auditor responsibility for assessing management's report on internal controls. In fact, auditors are required to evaluate management's assessment and report on it in their own report to provide a second opinion.