Because the procurement business process generates revenue amounts that are considered to be significant accounts,disclosures,and assertions on a company's income statement,risk assessment of the procurement business process is necessary for compliance with Sarbanes-Oxley.

Question

Quizplus · Accepted Answer

The procurement business process primarily relates to the purchasing of goods and services and impacts the expense side of a company's financial statements, not revenue generation. Sarbanes-Oxley compliance focuses on the accuracy of financial reports and the effectiveness of internal controls, including those related to significant financial transactions, but procurement itself is not directly tied to revenue generation.

Because the Procurement Business Process Generates Revenue Amounts That Are