The Sarbanes-Oxley Act Requires All of the Following Except

question 32

Multiple Choice

The Sarbanes-Oxley Act requires all of the following except?

• A)That audit partners rotate every five years to limit the likelihood that auditing relationships become too cozy over long periods of time.
• B)Strict limits on the amount of non-audit fees (consulting or otherwise)that an accounting firm can earn from the same firm that it audits.
• C)That senior management and the boards of public companies to be comfortable enough with the process through which funds are allocated and controlled,and outcomes monitored throughout the firm,to be willing to attest to their effectiveness and validity.
• D)The Auditor must personally attest to the accuracy of the financial statements presented to shareholders and to sign a statement to that effect.

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Definitions:

Depressed Clients

Individuals seeking psychological help who are experiencing prolonged feelings of sadness, hopelessness, and a lack of interest or pleasure in activities.

Negative Consequences

Unfavorable outcomes or penalties that result from an action or decision.

Cognitive

Relating to the mental processes involved in acquiring knowledge and comprehension, including thinking, knowing, remembering, judging, and problem-solving.

Automatic Negative Thoughts

Involuntary and often irrational thoughts that are pessimistic or negative in nature, which can contribute to feelings of anxiety or depression.