Discuss the General Requirements of Sections 404(a) and 404(b) of the Sarbanes-Oxley

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The Answer is Section 404 contains two subsections-404(a) and 404(b). 404(a) outlines management's responsibility under the act, and requires that the annual report include an internal control report by management that (1) acknowledges its responsibility for establishing and maintaining adequate internal control over financial reporting and (2) contains an assessment of the effectiveness of internal control over financial reporting as of the end of the most recent fiscal year. It also requires the principal executive and financial officers to make quarterly and annual certifications as to the effectiveness of the company's internal control over financial reporting. Section 404(b) outlines the independent auditor's responsibility. It requires the auditor to report on the internal control assessment made by management and also to make a separate independent assessment of the company's internal controls over financial reporting.

Discuss the General Requirements of Sections 404(a) and 404(b) of the Sarbanes-Oxley

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