All of the following are important provisions of the Sarbanes-Oxley Act except: A) The establishment of a new Public Company Accounting Oversight Board. B) The requirement to prepare both FASB and IASB financial statements. C) A requirement that the external auditors report directly to the company's audit committee. D) A clause to prohibit public accounting firms that audit a company from providing any other services that could impair their ability to act independently in the course of their audit.

Question

Quizplus · Accepted Answer

The Sarbanes-Oxley Act does not require companies to prepare both FASB (Financial Accounting Standards Board) and IASB (International Accounting Standards Board) financial statements. This is not a provision of the act.

All of the Following Are Important Provisions of the Sarbanes-Oxley