The 2002 Sarbanes-Oxley Act forbids use of an audit committee by the board of a publicly held corporation; the full board must oversee the work of the public accounting firm employed to audit the corporate books.

Question

Quizplus · Accepted Answer

The Sarbanes-Oxley Act actually requires publicly held corporations to have an independent audit committee to oversee the work of the public accounting firm, not the full board.

The 2002 Sarbanes-Oxley Act Forbids Use of an Audit Committee