The ____ ensures that internal controls are in place to govern the creation and documentation of financial statements.

Question

Quizplus · Accepted Answer

The Sarbanes-Oxley Act (SOX) was enacted in 2002 to improve corporate governance and ensure accurate financial reporting. One of its key provisions requires companies to establish and maintain effective internal controls over financial reporting to prevent fraud and ensure the integrity of financial statements. Therefore, option C is the correct answer. The Gramm-Leach-Bliley regulation pertains to financial institutions and privacy of customer information, Basel II regulation pertains to bank capital adequacy, and Foreign Corrupt Practices Act pertains to bribery and corruption of foreign officials.

The ____ Ensures That Internal Controls Are in Place to Govern