The 11 "titles" in the Sarbanes-Oxley Act of 2002 establish standards for accountability and responsibility of financial reporting information for major corporations. Which of the following activities does the act provide rules that a corporation must abide by?
A) The corporation must have a committee that consists of an internal director nominated from the board to oversee the firm's audits.
B) The corporation's internal auditor will render an unbiased (independent) opinion concerning the firm's financial statement.
C) The corporation must maximize social welfare through funding of environmentally friendly activities.
D) The corporation must provide additional information about the procedures used to construct and report financial statements.
E) The firm's CEO and CFO must certify audit reports submitted to the Securities Exchange Commission.

Question

Quizplus · Accepted Answer

The Answer of The 11 "titles" in the Sarbanes-Oxley Act of 2002 establish standards for accountability and responsibility of financial reporting information for major corporations. Which of the following activities does the act provide rules that a corporation must abide by?
A) The corporation must have a committee that consists of an internal director nominated from the board to oversee the firm's audits.
B) The corporation's internal auditor will render an unbiased (independent) opinion concerning the firm's financial statement.
C) The corporation must maximize social welfare through funding of environmentally friendly activities.
D) The corporation must provide additional information about the procedures used to construct and report financial statements.
E) The firm's CEO and CFO must certify audit reports submitted to the Securities Exchange Commission.

The 11 "Titles" in the Sarbanes-Oxley Act of 2002 Establish