All of the Following Are Principal Provisions of the Sarbanes-Oxley

question 19

Multiple Choice

All of the following are principal provisions of the Sarbanes-Oxley Act of 2002 except:

• A) At least one member of the audit committee of the board of directors must be a "financial expert."
• B) The lead audit or coordinating partner and the reviewing partner of the public accounting firm must rotate, or change, every five years.
• C) The firm's chief executive officer and the chief financial officer must issue a statement along with the audit report stating that the financial statements and notes fairly present the operations and financial position of the firm.
• D) The FASB has oversight and enforcement authority over the SEC.

---

Definitions:

Directors

People chosen by the company's shareholders to supervise the administration and make significant decisions on behalf of the corporation.

Meeting

A gathering of two or more people for the purpose of discussing and/or acting upon matters of common interest.

Incorporators

Individuals involved in the formation of a corporation who sign its articles of incorporation and may become initial shareholders.

Corporate Articles

Legal documents filed with a state government to officially form a corporation, outlining its structure and purpose.