Important provisions of the Sarbanes-Oxley Act
A) approve corporate loans to directors of the company.
B) encourage the destruction of financial documents.
C) require the CEO and CFO of corporations to certify the accuracy of financial reports.
D) encourage outside CPA firms to deliver several services to their clients, including auditing services and consulting services.

Question

Quizplus · Accepted Answer

The Sarbanes-Oxley Act includes several key provisions. It disapproves of corporate loans to directors and executives, requires the CEO and CFO of corporations to certify the accuracy of financial reports, and considers the destruction of important financial documents as a crime that can result in felony charges.

Important Provisions of the Sarbanes-Oxley Act