All of the following requirements about internal controls were enacted under the Sarbanes Oxley Act except
A) independent outside auditors must attest to the level of internal control.
B) companies must develop sound internal controls over financial reporting.
C) companies must continually assess the functionality of internal controls.
D) independent outside auditors must eliminate redundant internal controls.

Question

Quizplus · Accepted Answer

The Sarbanes Oxley Act does not require independent outside auditors to eliminate redundant internal controls. Instead, it focuses on ensuring companies have sound internal controls and that they continually assess their functionality. The role of independent outside auditors is to attest to the level of internal control in place.

All of the Following Requirements About Internal Controls Were Enacted