Which one of the following is not a provision in the Sarbanes-Oxley Act?
A)Public companies must have their internal control evaluated by the external auditor.
B)Accounting firms cannot both audit and provide certain consulting services to a client.
C)Violators will receive a reprimand and further accounting training.
D)Auditors of public companies are overseen by an oversight board.

Question

Quizplus · Accepted Answer

The Sarbanes-Oxley Act includes provisions for the evaluation of internal controls by external auditors (A), restrictions on accounting firms providing both audit and certain consulting services to the same client (B), and the establishment of an oversight board for auditors of public companies (D). However, it does not merely issue a reprimand and require further accounting training for violators (C); it imposes much stricter penalties, including fines and imprisonment for serious offenses.

Which One of the Following Is Not a Provision in the Sarbanes-Oxley