HVAC Heating & Air Conditioning, Inc., is a public company whose shares are traded in the public securities markets. Under the Sarbanes-Oxley Act of 2002, to ensure that HVAC's financial results are accurate and timely, the firm's senior officers must set up and maintain

Question

HVAC Heating & Air Conditioning, Inc., is a public company whose shares are traded in the public securities markets. Under the Sarbanes-Oxley Act of 2002, to ensure that HVAC's financial results are accurate and timely, the firm's senior officers must set up and maintain​

Quizplus · Accepted Answer

The Sarbanes-Oxley Act requires public companies to establish and maintain internal controls to ensure accurate financial reporting. These controls are known as "disclosure controls and procedures," which include processes for recording, reviewing, and reporting financial information. The senior officers of HVAC must be responsible for setting up and maintaining these controls to ensure the accuracy and timeliness of the company's financial results. Choice B, C, and D are not accurate in the context of the question.