Which of the following is not a change introduced by the Sarbanes-Oxley Act?
A) Management evaluate and report on the effectiveness of internal control over financial reporting.
B) Publically traded companies must have their financial statements audited.
C) The company's board of directors is required to establish an audit committee comprised of independent directors.
D) Public companies must have tip lines that allow employees to secretly submit concerns about questionable accounting or auditing practices.

Question

Quizplus · Accepted Answer

The requirement for publicly traded companies to have their financial statements audited was already in place before the Sarbanes-Oxley Act. Therefore, it is not a change introduced by the Act.

Which of the Following Is Not a Change Introduced by the Sarbanes-Oxley