Which of the following statements is true of the Sarbanes-Oxley Act?
A) The act can apply to international companies if they are registered with the Securities and Exchange Commission (SEC).
B) The act focuses on lessening the responsibilities of the auditors.
C) The act requires the auditors to have a close working relationship with the company's CFO, accounting staff, and other company officials.
D) The act is inapplicable to public companies.
E) The act mandates the certification of internal financial controls.

Question

Quizplus · Accepted Answer

Section 302 of the Sarbanes-Oxley Act requires CEOs and CFOs to certify the accuracy of the quarterly and annual financial statements filed with the Securities and Exchange Commission. The certification of internal financial controls is mandated by Section 404 of the Sarbanes-Oxley Act.

Which of the Following Statements Is True of the Sarbanes-Oxley