The importance to the accounting profession of the Sarbanes-Oxley Act is that
A)bribery will be eliminated
B)management will not override the company's internal controls
C)management is required to certify the internal control system
D)firms will not be exposed to lawsuits

Question

Quizplus · Accepted Answer

The Sarbanes-Oxley Act requires management to certify the effectiveness of the company's internal control system, ensuring that the financial reporting is accurate and reliable. This act does not directly address bribery, prevent management from overriding internal controls, or shield firms from lawsuits.

The Importance to the Accounting Profession of the Sarbanes-Oxley Act