Which of the following are key requirements of the Sarbanes-Oxley Act?
I.Officers of the corporation must now own more than 5 percent of the firm's stock.
II.Officers of the corporation must review and sign annual reports.
III.Annual reports must list deficiencies in internal controls.
IV.Annual reports must be filed with the SEC within 30 days of year end.
A)I only
B)II only
C)I and III only
D)II and III only
E)II and IV only

Question

Quizplus · Accepted Answer

The key requirements of the Sarbanes-Oxley Act are that officers of the corporation must review and sign annual reports and annual reports must list deficiencies in internal controls. Option I is incorrect as there is no such requirement for officers to own more than 5 percent of the firm's stock. Option IV is also incorrect as the annual reports must be filed with the SEC within 60 days of year-end, not 30 days.

Which of the Following Are Key Requirements of the Sarbanes-Oxley