Which act requires publicly traded companies to assess the effectiveness of their internal controls and have an independent CPA firm audit this assessment?

Question

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The Sarbanes-Oxley Act of 2002 or SOX requires publicly traded companies to assess the effectiveness of their internal controls and have an independent CPA firm audit this assessment. The act was passed in the wake of accounting scandals to increase transparency and accountability in corporate reporting. The other options listed are not relevant to this requirement.

Which Act Requires Publicly Traded Companies to Assess the Effectiveness