Which One of the Following Is Not a Requirement Imposed

question 101

Multiple Choice

Which one of the following is not a requirement imposed by the Sarbanes-Oxley Act?

• A) Accounting firms may not offer other services to companies they audit.
• B) Any one individual is prohibited from serving as the chairman of a firm's board of directors for more than 5 years.
• C) A board's audit committee must consist of directors who are independent of the firm's management.
• D) Management must certify that the financial statements present a fair view of the firm's financial position.

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Definitions:

Competitive

Characterized by rivalry among entities striving for the same goal, such as winning a game, achieving market dominance, or securing a resource.

Candidate

An individual who applies for a job or is nominated or runs for an elected position in an organization or government.

Senate

A legislative body in various countries, often part of a bicameral system alongside a lower house, responsible for making and passing laws.

House-Senate Conference Committee

A temporary panel composed of House and Senate members appointed to reconcile differences in legislation that has passed both chambers.