Which of the following is not a provision of the Sarbanes-Oxley Act of 2002?
A) The chief executive officer and the chief financial officer are jointly responsible for establishment and enforcement of internal controls.
B) Companies are required to report on the effectiveness of their internal controls.
C) The company's external auditor is charged with the ultimate responsibility for the accuracy of the company's financial statements and accompanying footnotes.
D) The company's external auditors are required to attest to the accuracy of the internal controls report.

Question

Quizplus · Accepted Answer

This provision is not part of the Sarbanes-Oxley Act. It is a basic principle in auditing that the responsibility for the accuracy of financial statements rests with the management of the company, not the external auditors. However, under the act, the external auditors are required to evaluate and report on the effectiveness of the company's internal controls over financial reporting.

Which of the Following Is Not a Provision of the Sarbanes-Oxley