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

Question

Quizplus · Accepted Answer

The Sarbanes-Oxley Act does not mandate that the Chief Operating Officer assumes financial statement responsibility. In fact, the act emphasizes on the role and independence of the Chief Financial Officer in financial reporting and oversight.

Which Is NOT a Result of Sarbanes-Oxley