Section 404 of the Sarbanes-Oxley Act, Management Assessment of Internal

question 5

Multiple Choice

Section 404 of the Sarbanes-Oxley Act, Management Assessment of Internal Controls, includes all of the following except:

• A) A statement of management's responsibility for establishing the internal control structure.
• B) A waiver of auditor responsibility for assessing management's report on internal controls.
• C) An assessment of the effectiveness of internal controls by management.
• D) An assessment of the effectiveness of procedures for financial reporting by management.
• E) A requirement that management include in its annual report an internal control report.

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Definitions:

Practical Application

The use of theoretical knowledge in a real-world scenario to solve practical problems.

Social Psychologists

Scientists who study how people’s thoughts, feelings, and behaviors are influenced by the actual, imagined, or implied presence of others.

Groups

Collections of individuals who interact with each other, share similar characteristics, and collectively have a sense of unity.

Attitudes

Psychological tendencies expressed by evaluating particular entities with some degree of favor or disfavor.