Which of the following is NOT one of the requirements of the Sarbanes-Oxley Act (SOX)?
A)SOX requires an assessment by management of the internal control structure.
B)SOX states that the board of directors is required to establish an audit committee to oversee financial matters of the company.
C)SOX requires the external auditors to test the effectiveness of internal controls and issue a report which gives an opinion on the effectiveness of the internal controls.
D)SOX requires that all employees adopt a code of ethics.

Question

Quizplus · Accepted Answer

The other options (A, B, and C) are all requirements of the Sarbanes-Oxley Act. However, requiring all employees to adopt a code of ethics is not specifically stated in the SOX legislation. While SOX does require public companies to have a code of ethics for senior financial officers, it does not require all employees to adopt a code of ethics.

Which of the Following Is NOT One of the Requirements