To Comply with SOX, Companies Must Use a Framework for Evaluating

question 94

True/False

To comply with SOX, companies must use a framework for evaluating internal control.

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Definitions:

Sarbanes-Oxley Act

A United States federal law enacted in 2002 that set new or expanded requirements for all U.S. public company boards, management, and public accounting firms, aimed at protecting investors from fraudulent financial reporting.

Code of Ethics

A set of principles and guidelines designed to help professionals conduct business honestly and with integrity.

Davis-Bacon Act

A United States federal law that requires paying the local prevailing wages on public works projects for laborers and mechanics.

Goldwater-Nichols Act

A significant restructuring of the United States military's chain of command, passed in 1986 to improve military effectiveness and interoperability.