Which of the following was not a change introduced by the Sarbanes-Oxley Act?
A)Limits on executive compensation for most companies.
B)Stiffer fines and maximum jail sentences for willful misrepresentation of financial results.
C)An external audit of the effectiveness of internal controls.
D)Anonymous tip lines and legal protection to whistle-blowers.

Question

Quizplus · Accepted Answer

The Sarbanes-Oxley Act enacted changes broadly designed to: counteract incentives by imposing stiff penalties and maximum jail sentences;reducing opportunities for fraud by requiring audit committees of independent directors and requiring an evaluation of the effectiveness of internal control over financial reporting by management and,for large public companies,by external auditors;and encouraging honesty by requiring public companies to have anonymous tip lines and granting legal protection to whistleblowers.SOX did not include provisions that set limits on executive compensation.

Which of the Following Was Not a Change Introduced by the Sarbanes-Oxley