Which one of the following is a key requirement of the Sarbanes-Oxley Act?
A)Officers of the corporation must now own at least five percent of the firm's stock.
B)Officers of the corporation must review and sign the annual reports.
C)Annual reports must list the strengths of the internal controls.
D)Firms must "go dark" every 5 years.
E)Monthly financial statements must be provided to all shareholders.

Question

Quizplus · Accepted Answer

The key requirement of the Sarbanes-Oxley Act is that officers of the corporation must review and sign the annual reports, attesting to their accuracy and completeness. This is known as the CEO/CFO certification requirement and is designed to increase accountability for financial reporting. None of the other options listed are key requirements of the act.

Which One of the Following Is a Key Requirement of the Sarbanes-Oxley