Section 404 of the Sarbanes-Oxley Act Requires That Monthly Filings

question 68

True/False

Section 404 of the Sarbanes-Oxley Act requires that monthly filings of publicly traded companies include a statement of management's responsibility for establishing and maintaining adequate internal control as well as an assessment of the effectiveness of that internal control.

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Definitions:

Nominal Group

A structured form of brainstorming that involves individuals generating ideas independently before sharing them with the group to prioritize or make decisions.

Cooperative Group

is a group of individuals who work together to achieve common goals or complete tasks.

Competitive Group

A group structured around achieving objectives in a manner that involves rivalry or competition among its members.

Withholder

An individual who deliberately chooses not to share information, emotions, or resources, often leading to communication barriers or relationship issues.