The Sarbanes-Oxley Act Requires All of the Following EXCEPT

question 25

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:

Feminine Social Clock

The cultural timetable for women regarding major life events such as marriage, parenthood, and career milestones.

Masculine Social Clock

The societal expectations placed on men about the timing of major life events, such as career advancement and family responsibilities.

Subjective Well-Being

An individual's self-reported assessment of their own happiness and satisfaction with life.

Cross-Sectional

A type of observational study design that analyzes data from a population, or a representative subset, at a specific point in time.