SOX Section 404 Requires Requires Each Annual Report of a Publicly

question 54

True/False

SOX section 404 requires requires each annual report of a publicly traded company to contain an internal control report to contain a assessment of the effectiveness of the company's internal control structure and procedures.

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Definitions:

Sea Cave

A cave at the base of a sea cliff, usually flooded by seawater.

Erosion Promontory

A high point of land that extends into a body of water, formed from the resistance of its materials to weathering and erosion.

Seafloor Spreading

The process by which new oceanic crust is created at mid-ocean ridges and gradually moves away from the ridge, contributing to continental drift.

Sea Level Rise

The increase in the global average level of the oceans, attributed primarily to climate change via melting ice and thermal expansion of seawater.