There are a number of increased reporting requirements as the result of Sarbanes-Oxley and IFRS.These requirements have made it imperative for companies to:
A)Adjust the systems and controls
B)Collect additional information needed for compliance.
C)Well organized with the right resources to carry out the new tasks.
D)All of the above are required.

Question

There are a number of increased reporting requirements as the result of Sarbanes-Oxley and IFRS.These requirements have made it imperative for companies to:
A)Adjust the systems and controls
B)Collect additional information needed for compliance.
C)Well organized with the right resources to carry out the new tasks. 
D)All of the above are required.

Quizplus · Accepted Answer

All of the above choices are required for companies to comply with the increased reporting requirements under Sarbanes-Oxley and IFRS. Companies need to adjust their systems and controls to ensure accurate and timely reporting, collect additional information needed for compliance, and put in place the right resources and organization to carry out the new tasks. Failure to comply with these requirements can result in significant penalties and reputational risks for companies.

There Are a Number of Increased Reporting Requirements as the Result