Which of the following was not a result of the Sarbanes-Oxley Act?
A)The COO assumes financial statement responsibility.
B)There are new requirements for CPA firms.
C)There are stiffer consequences for white-collar crimes.
D)Audit committees must be independent.

Question

Quizplus · Accepted Answer

The Sarbanes-Oxley Act did not specifically require the Chief Operating Officer (COO) to assume financial statement responsibility. However, it does require senior management to certify the accuracy of financial statements and for the CEO and CFO to certify financial statements in their quarterly and annual reports.

Which of the Following Was Not a Result of the Sarbanes-Oxley